Strategic Diagnostics reported financial results for the second quarter ended June 30, 2006
Revenues for the second quarter of 2006 decreased 8.7% to $5.6 million, compared to $6.2 million for the same period in 2005.
Revenues from the company's products for the detection of food pathogens grew 7% to $847,000 in the 2006 quarter compared to $788,000 for the same quarter in 2005.
The second quarter of 2006 was negatively impacted by lower than expected sales of food pathogen tests through the company's international distributor, attrition of high margin sales in the water and environmental product group and a decline in monoclonal antibody revenue not associated with the Genomic Antibodies platform, compared to the same period in the prior year.
Gross profits (defined as total revenues less manufacturing costs) for the second quarter of 2006 were $2.9 million compared to $3.3 million in the year ago period.
Gross margins were 51.6% and 53.1% for the second quarters of 2006 and 2005, respectively.
