3rd-Quarter Profit Rises at Newbury Park’s Amgen

Amgen, a Newbury Park biotechnology concern, earned $136,000 in its third quarter ended Dec. 31, against $85,000 a year ago. Per-share earnings were 1 cent in both quarters, but revenue was up 59%, to $8.9 million.

Amgen said the results reflect increased revenues from corporate partnerships in which it is developing a number of products, as well as increased interest income on larger cash balances derived from the company’s March, 1986, public offering.

For the nine months, Amgen earned $905,000, or 6 cents a share, on revenue of $24.1 million. A year ago, it earned $343,000, or 3 cents, on revenue of $16.5 million.