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BioLife Solutions Announces 2012 Second Quarter Results: Eighth Straight Quarter of Record Revenue
Date:8/14/2012

BOTHELL, Wash., Aug. 14, 2012 /PRNewswire/ -- BioLife Solutions, Inc. (OTCBB: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade hypothermic storage and cryopreservation freeze media for cells and tissues, and contract aseptic media manufacturer, today announced record results for the second quarter ended June 30, 2012.

(Logo: http://photos.prnewswire.com/prnh/20090814/BIOLIFELOGO)

Summary of Q2 2012 Achievements

  • The Company recorded its eighth sequential record revenue quarter, with revenue surpassing $1 million for the first time.
  • The Company commenced deliveries to its new contract manufacturing customer.
  • The Company completed the expansion of its corporate office and operations workspace and also the build-out of its second current Good Manufacturing Practice (cGMP) clean room suite.
  • To manage growing demand and projections, the Company added team members to its production team and both direct and indirect sales professionals in the period.

    • Mike Rice, Chief Executive Officer, commented: "Sales momentum continued to accelerate as we made significant investments in our infrastructure during the quarter that will position us for future growth, profitability and positive cash flows. Revenue in all of our channels was up over the same quarter last year, especially in the drug discovery and regenerative medicine segments. We also drove significant growth in our distribution channel with growing adoption of our flagship biopreservation media products. Overall, we
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    SOURCE BioLife Solutions, Inc.
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