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Article: Genentech Reports 38 Percent Increase in Product Sales for First Quarter.
- Article from:
- Business Wire
- Article date:
- April 12, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/Health & Medical Writers
20 Percent Increase in Net Income and 21 Percent
Increase in Earnings Per Share, Exclusive of Impact of
Redemption and Change in Accounting
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--April 12, 2001
Genentech, Inc. (NYSE:DNA) today announced a 20 percent increase in net income and a 21 percent increase in earnings per share(1) driven by a 38 percent increase in product sales for the first quarter of 2001, exclusive of the ongoing impact of the 1999 redemption of Genentech's Special Common Stock and related accounting treatment(2), and the cumulative effect of accounting changes(3)(4). ...