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Caliper Life Sciences Reports First Quarter 2009 Results
Date:4/30/2009

approximately 6%. Research growth was strong, primarily due to sales of the proprietary LabChip GX, which the Company believes is the "best-in-class" proprietary solution for characterizing proteins in the fast growing biologicals market, and increased sales of Profiler Pro reagent kits which are used for kinase screening with the EZ Reader instrument.
  • Optical Imaging revenues increased to $10.7 million during the first quarter of 2009 from $9.8 million during the first quarter of 2008. This increase represented organic growth of 15% before unfavorable currency effects of approximately 5%. Optical Imaging growth was driven by continued strong global demand for IVIS instruments and accessories, reagents and services.
  • Caliper's Discovery Alliances and Services (CDAS) revenues decreased by 7% (unaffected by currency changes) to $4.2 million during the first quarter of 2009 from $4.5 million during the first quarter of 2008. The net decrease resulted from a decrease in in vitro services revenues partially offset by in vivo services revenue improvement. The Company anticipates revenue from CDAS services to grow over the second half of 2009 based on the expectation that it will receive a new task order under the Environmental Protection Agency's ToxCast(R) program.
  • Total gross margin decreased by approximately 1% during the first quarter of 2009 compared to same period in 2008 primarily due to the loss of service margin contribution that was associated with the product lines that were divested in the fourth quarter of 2008.
  • Operating expenses (research and development plus selling, general and administrative expenses) decreased by 19% to $15.7 million during the first quarter of 2009 from $19.5 million in the first quarter of 2008. This reduction included $2.8 million of SG&A expense reduction and $1.0 million of R&D expense reduction resulting from streamlining
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  • SOURCE Caliper Life Sciences, Inc.
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