Random Ramblings about stuff I see going on in biotech, internet and the stuff I read.

Wednesday, July 27, 2005

Biosource and Invitrogen

Strategically, looks like a good buy, but BioSource, if I am reading the financials right, is barely profitable. This makes the price a bit off, but they obviously weren't bought for the short term shot in the arm of cash.

$680,000 in Q1 '05

losses overall for every previous year. I hope, and acutally find likely, that they were doing something to burn all that money. I am too lazy to read, but it looks like they wrote something off that made them not profitable last year. If they hadn't they would have squeezed out a profit. SG&A is really big.

In other news, this puts Invitrogen on the map as far as antibodies and ELISA's.

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