Genetix completes AI purchase
New Milton, UK-based Genetix, a cell biology and health technology group, says it completed the acquisition of Applied Imaging Corp on November 21, 2006.
Sales for the company, excluding the AI deal, are expected to be in line with market expectations, with profits ahead of projections due to improved gross margins and US dollar exchange gains. Genetix noted that post acquisition results of AI have been encouraging due to a positive weighting of sales in the last few weeks of 2006. Overall, AI is expected to make a meaningful contribution to the company's profitability over the period, the firm stated.
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