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BioLife Solutions 2011 Revenue Up 33%
Date:1/10/2012

BOTHELL, Wash., Jan. 10, 2012 /PRNewswire/ -- BioLife Solutions Inc. (OTCBB: BLFS), a leading developer, manufacturer, and marketer of proprietary hypothermic storage and cryopreservation freeze media for cells and tissues, today announced preliminary record revenue for the fourth quarter and full calendar year 2011. Highlights include:

  • Sixth consecutive quarter of record revenue
  • Preliminary fourth quarter revenue of $809,000, up 13% over the third quarter and 41% over the same period in 2010
  • Unaudited full year 2011 revenue of $2.8 million, an increase of 33% over 2010
  • Distributor sales for the full year accounted for 20% of total revenue, up from 10% in 2010
  • Revenue shipments to the regenerative medicine segment increased 50% over 2010
  • Executed a new contract manufacturing agreement with profitable public life sciences company
  • Mike Rice, BioLife Chief Executive Officer, commented on the continued strong growth in revenue, "2011 was a very solid year for BioLife as we continued to execute our growth strategies. We have created a strong recurring revenue stream from an expanding foundation of customers in the biobanking, drug discovery and regenerative medicine markets. We have also secured, and continue to pursue, new contract manufacturing business opportunities to leverage our facilities, capacity and expertise. And in the fourth quarter of 2011, we executed non-exclusive agreements with several new distributors. All of these accomplishments should result in continued revenue growth in 2012."

    Rice added, "BioLife's flagship products,

    SOURCE BioLife Solutions, Inc.
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