Applied Biosystems Reports Fiscal 2006 Third Quarter Results.

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Applied Biosystems Reports Fiscal 2006 Third Quarter Results.

FOSTER CITY, Calif. -- Applied Biosystems Group (NYSE: ABI):

--Net Revenues Increased 8% to $490.7 Million

--Q3 Fully Diluted GAAP EPS of $0.65, Including Legal Settlements and Certain Tax Benefits

--Q3 Non-GAAP EPS Was $0.34, Excluding Specified Items

Applied Biosystems Group (NYSE: ABI), an Applera Corporation business, today reported net revenues of $490.7 million for the third quarter of fiscal 2006, an 8% increase over the prior year quarter. Revenues for the quarter include the favorable impact of 1% related to the acquisition of the Research Products Division of Ambion, Inc., effective March 1st, and an unfavorable currency impact of approximately 2%. Quarterly revenues also included licensing fees and royalty payments of approximately $14 million related to a settlement agreement, announced in February, involving patent infringement claims brought by Applera against Bio-Rad Laboratories, Inc. and MJ Research, Inc. Net income was $124.4 million, compared to $55.5 million for the prior year quarter, and was affected by specified items in both periods. Earnings per share (EPS) for the quarter was $0.65, compared to $0.28 for the prior year quarter. EPS for the quarter on a non-GAAP basis, excluding the specified items described in the reconciliation schedule below, was $0.34, a 21% increase compared to $0.28 for the prior year quarter. The net effect of foreign currency on EPS was an unfavorable imp...

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