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

its product and service offerings into three core business areas -- Imaging, Research, and Caliper Discovery Alliances and Services (CDAS) -- with the goal of creating a more scalable infrastructure while putting increased focus on growth and profitability.
  • Imaging revenues were approximately $14.4 million in the fourth quarter, reflecting a decline of $0.3 million, or 2% from the same period in 2007. Unit sales were down slightly due to a few instances of customers experiencing budget tightening. This resulted in an overall product revenue decrease which was partially offset by improvements in both service and license revenues. Full year imaging revenues grew 17% compared to 2007.
  • Research revenues were approximately $17.6 million in the fourth quarter, reflecting an organic decline of approximately $0.9 million, or 6% from the same period in 2007, after factoring in the impact of the PDQ and AutoTrace product line divestitures. This decline was comprised mainly of weaknesses in automation specialty products and OEM channel sales, offset by microfluidic products and services growth due to strong continued adoption of the new LabChip GX instrument. In total, 26 LabChip GX instruments were placed in the quarter and 40 LabChip GX instruments have been placed since the product's launch in July 2008.
  • CDAS revenue was $4.7 million in the fourth quarter, reflecting a decline of $0.4 million, or 8%, versus the same period in 2007. The decline was primarily due to lower than expected revenues under Caliper's contract with the Environmental Protection Agency for its ToxCast screening program which began in 2007. Caliper expects a higher level of task orders under this contract in 2009.
  • Operating expenses (research and development plus selling, general and administrative expenses) for the fourth quarter of 2008 decreased $4.9 million, or 23% from the fourth quarter of 2007. This reduction included
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  • SOURCE Caliper Life Sciences, Inc.
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