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BioLife Solutions Announces 7th Consecutive Quarter of Record Revenue
Date:5/14/2012

mpany also recorded $87,215 in other income related to a non-reciprocal, non-monetary receipt of raw materials.

For the first quarter of 2012, the Company reported a net loss of $296,877, or $(0.00) per share, compared with a net loss of $630,122, or $(0.01) per share, for the first quarter of 2011. Loss from operations in the first quarter of 2012 was $179,264, which was 61% lower when compared to the $454,277 loss from operations in the first quarter of 2011.

Outlook for 2012Management expects revenue to continue to increase to approximately $4.1 million in 2012. The Company also expects sales to its contract manufacturing customers to increase significantly with the commencement of deliveries to the previously announced new customer. The Company also expects steady increases in revenue shipments to existing and new direct customers, specifically in the regenerative medicine market segment, as customers continue to move their cell- and tissue-based therapies and products through the clinical trial and regulatory approval processes.

The Company expects slightly lower gross margins as a percentage of revenue in 2012, as a result of increased contract manufacturing, in addition to increased operating expenses associated with selling and product development activity. 

Finally, management believes the Company will achieve positive cash flow from operations in 2012 and that cash generated from customer collections will provide sufficient funds to operate the business.

About BioLife SolutionsBioLife Solutions develops, manufactures and markets patented hypothermic storage and cryopreservation solutions for cells and tissues.  The Company's proprietary HypoThermosol® and CryoStor® platform of solutions are marketed to academic and commercial organizations involved in cell therapy, tissue engineering, cord blood banking, drug discovery, and toxicology testing. BioLife's products are serum-free and protein-fre
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