REVENUES RISE AT GENENTECH
Total revenues for full-year 1992 at Genentech in the USA grew 5.5% to $544.2 million. Net income for the year was $20.8 million, down 53% on the 1991 levels. Earnings per share were also down 53% to $0.18.
For the fourth quarter of 1992, Genentech posted total revenues of $142 million, an increase of 18.8% on the like, year-earlier period. Net income was $6.2 million, compared with $108,000 a year-ealier. Earnings per share were $0.05.
Genentech pointed out that the decline in net income for the full year was due primarily to continued large investment in R&D, consistent with its aggressive product development goals of getting new products on the market.
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