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2002 NOV 20 - (NewsRx.com & NewsRx.net) -- Boston Biomedica, Inc., (NASDAQ:BBII) reported its third quarter financial results.
"Third quarter revenue increased 8.6%, driven primarily by strong activity in two service contracts related to HIV vaccine development and hepatitis C," said Kevin W. Quinlan, Boston Biomedica, Inc. "This was partially offset by disappointing product revenue, caused primarily by postponed and cancelled orders as the current economic downturn in the IVD industry hurt our customers' test kit sales and new test development. The result was an unfavorable mix shift that adversely impacted gross margin and operating performance.
"Nonetheless we remain encouraged as we released several important new products during the quarter, including an Accurun multimarker control for viral nucleic acid testing performed in blood banks, as well as a much anticipated HIV drug resistant mutants positive control - the first commercially available quality control product of its kind in an important new area of monitoring ...
Source: HighBeam Research, Company's third quarter revenue positively affected by HIV, HCV...