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Archive for Saturday, October 29, 2005

Serologicals shares dip after earnings report

October 29, 2005

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Shares of Serologicals Corp., a provider of biological products to researchers and drug makers, lost 11 percent of their value Friday after the Atlanta-based company had reported a 33 percent rise in third-quarter earnings but acknowledged that research revenue had missed expectations.

Serologicals shares closed Friday at $19.70, down $2.51 on Nasdaq, following the company's earnings report that came after Thursday's market close.

Serologicals profit grew to $7.7 million, or 20 cents per share, from $5.7 million, or 19 cents per share, a year earlier.

Serologicals owns an idle production plant in Lawrence's East Hills Business Park. Serologicals reported that sales of Ex-Cyte - the main product to be produced at the Lawrence plant - increased 25 percent to $9.4 million during the quarter.

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