We were so excited about our favorite Carlsbad-based life sciences company the last time we mentioned Invitrogen that we bought a couple shares. Lucky us, because yesterday they announced that second quarter profits were up 30 percent
The Carlsbad, California-based company posted net income of $53.2 million, or 55 cents per share, compared with a profit of $40.9 million, or 31 cents per share, a year earlier. . . The results topped analyst expectations by a whopping 11 cents, according to Reuters Estimates, and Invitrogen shares jumped nearly 5 percent in premarket trading.
Knowing nothing about the life sciences business or the stock market in general, we’re feeling pretty good about Invitrogen’s future as well. Not that it matters.
[Link: Forbes.com]
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