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Stratagene Reports Strong First Quarter 2005 Results.

Article Excerpt
LA JOLLA, Calif. -- Stratagene Corporation (Nasdaq:STGN), a developer, manufacturer and marketer of specialized life science research and diagnostic products, today released financial results for the first quarter ended March 31, 2005.

For the first quarter of 2005, revenue grew 27% to $24.6 million compared with $19.4 million in the first quarter of 2004.

For the first quarter of 2005, the Company generated net income of $2.9 million, or $0.13 per diluted share, compared with $2.1 million, or $0.13 per diluted share, in the comparable quarter of 2004.

At March 31, 2005, cash, cash equivalents and marketable securities were $4.7 million and total assets were $81 million. Since early 2004, the Company has repaid more than $15 million in total debt. As of March 31, 2005, total debt was $6 million.

"Our core life science and clinical diagnostics businesses continue to perform strongly, with Quantitative PCR (QPCR) and clinical allergy diagnostics sales once again leading growth," said Joseph A. Sorge, MD, President and CEO of Stratagene Corporation. "During the first quarter our QPCR product line achieved sales growth of 15%, while our clinical allergy diagnostics product line grew 20%. With the strong growth trends and efficiencies that we are experiencing in our core businesses, we are raising our full year earnings per share guidance to a range of $0.39 to $0.43 per share. We remain well positioned to continue to invest in our long-term molecular and clinical diagnostics strategies.

"During the past quarter, we entered an exciting new agreement with the Sidney Kimmel Cancer Center to license a family of pending patents...

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