Invitrogen Announces Third Quarter 2007 Results
Posted by Jim H on November 1, 2007
I was surprised to hear that Invitrogen had “turned things around” and pulled out of a major slide. That’s my take, this is the Washington Post’s more sterile version:
CARLSBAD, Calif., Oct 30, 2007 (BUSINESS WIRE) — Invitrogen Corporation (IVGN) today announced results for its third quarter ended September 30, 2007. Revenues for the third quarter were $315 million, an increase of 11 percent over the $284 million for 2006, excluding the impact of discontinued operations.
“We’re pleased our work to achieve balanced growth across all products and regions and return margins to historical levels is paying off sooner than expected,” said Greg Lucier, Chairman and Chief Executive Officer of Invitrogen. “Our focus from here is to sustain and expand upon these results by driving further sales penetration in high growth regions, targeted investments in breakthrough technologies and broader implementation of our reagent productivity strategies.”
“Return margins to historical levels”? I wonder if he’s referring to before Invitrogen came into town and screwed everything up and lost 1/2 of LTI’s old customer base? Now if they would just start working on restoring product quality and Customer service to “historical levels” they might start to win back a few customers in Frederick County.