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

and cost-reduction initiatives implemented over 2008, including expenses related to divested product lines.
  • Net loss narrowed by $3.3 million, or 33%, to $6.6 million ($0.14 per share) during the first quarter of 2009 from $9.9 million ($0.21 per share) during the first quarter of 2008. On a non-GAAP basis, which includes the adjustments noted in the attached reconciliation, net loss per share in the first quarter of 2009 was $0.11 compared to a net loss per share of $0.15 in the first quarter of 2008. The overall reduction in net loss reflected the benefit of cost reductions implemented to coincide with the Company's strategic reconfiguration around its higher growth, proprietary products and services.
  • On March 6, 2009, Caliper entered into a $25 million amended credit facility agreement with Silicon Valley Bank, which is effective through November 30, 2010. As of March 31, 2009, Caliper reported cash and investments of $23.8 million and outstanding borrowings under this credit facility of $14.9 million.

  • "Our strategic reconfiguration over the past two years is beginning to pay off as evidenced by our strengthened balance sheet and our strong top and bottom line momentum achieved in the first quarter of 2009," commented Kevin Hrusovsky, Caliper's president and CEO. "Despite ongoing market uncertainties, we expect to continue delivering solid financial performance throughout the remainder of this year and deliver positive full year EBITDA in 2010," added Hrusovsky.

    2009 GAAP Guidance

    Caliper reported that its revenue outlook for the second quarter of 2009 is $28 to $31 million. On an organic basis, the midpoint of this range would result in revenues being approximately flat compared to pro forma revenue of $30.7 million in the second quarter 2008, after taking into account the divested products lines as well as anticipated unfavor
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    SOURCE Caliper Life Sciences, Inc.
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