Published in Lab Business Week, November 5th, 2006
Net sales for the fourth quarter of fiscal year 2006 increased 13.0% to $129.2 million from $114.3 million in the fourth quarter of fiscal year 2005 reflecting strong demand for the company's products in international markets and the U.S.
As previously reported, gross profit in last year's fourth quarter was reduced by a provision of $12.4 million for excess inventory and the write-off of $2.4 million of equipment no longer in use, which was offset by an increase in gross profit of $3.5 million for the correction of fixed asset lives....
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