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Caliper Life Sciences Reports Fourth Quarter and Full Year 2008 Results
Date:3/12/2009

, president and CEO of Caliper. "Most importantly, excluding non-recurring license revenues, our continuing businesses grew 7% in full year 2008 on a pro forma basis. We have strong momentum to start 2009, with our new genomic products, LabChip GX and Zephyr Genomics Workstation, and the new IVIS Kinetic imaging system, all launched in the past two quarters. In addition, through streamlining and cost reductions, we reduced our annual ongoing spending needs by approximately $10 million. The impact of all of these actions strengthened our balance sheet, improved top and bottom line growth potential and sharpened focus on fast growing molecular applications with our proprietary microfluidics and imaging product lines," added Hrusovsky

On a full year basis, 2008 revenues were $134.1 million, a decline of 4.7%, compared to $140.7 million in 2007. The 2007 revenue included approximately $11.2 million of non-recurring microfluidics license and contract revenues, which were partially offset in 2008 by strong growth of Caliper's imaging and research products for genomics applications.

Net loss for the full year was $68.3 million ($1.42 per share), which includes $48.0 million ($1.00 per share) of non-cash goodwill impairment and other restructuring charges. This compares to a net loss of $24.1 million ($0.51 per share) in 2007. Non-GAAP net loss per share for 2008 was $0.27 compared to a net loss per share of $0.25 in 2007.

Fourth Quarter Highlights:

  • Caliper's fourth quarter revenue of $36.7 million met the top end of its guidance estimate provided on November 10, 2008.
  • Caliper divested its PDQ and AutoTrace product lines on November 10, 2008. The sale of these product lines generated $17.8 million of cash proceeds, in addition to approximately $2.0 million of liabilities that were assumed by the purchasers.
  • Caliper reorganized
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SOURCE Caliper Life Sciences, Inc.
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