Date:3/12/2009

a $2.1 million reduction in legal costs due to the settlement of outstanding litigation earlier in 2008, including a favorable settlement with AntiCancer, Inc. The remaining $2.8 million decrease resulted primarily from the consolidation of Caliper's West Coast research and development operations in the first quarter of 2008, and Caliper's strategic realignment of sales and marketing into three core strategic business units, which was completed late in the third quarter of 2008. The West Coast consolidation also enabled substantially all of Caliper's research and development resources to be housed in a single location, substantially increasing productivity for the latter part of 2008.

During the fourth quarter of 2008, Caliper performed an analysis of its goodwill and other intangible assets taking into consideration the current economic climate, Caliper's market capitalization, and its future operating projections. As a result of such analysis, Caliper recorded a non-cash goodwill impairment charge of $43.4 million. This impairment charge, along with a reduction of $14.3 million of goodwill that was attributed to the sale of Caliper's PDQ and AutoTrace product lines which were divested in the fourth quarter of 2008, resulted in goodwill of approximately $22.9 million as of December 31, 2008. In addition, due to a further deterioration of the commercial real estate market, Caliper recorded an incremental non-cash restructuring charge of $1.9 million, which was added to the $2.8 million charge already taken during the third quarter of 2008, to reflect the idle cost of unused space in Caliper's Mountain View, California facility. As disclosed in earlier communications, Caliper is attempting to sublease approximately 36,500 square feet of its idle space which is under contract through 2013.

2009 Guidance

Caliper reported that its revenue outlook for the first quarter of 2009 is $25.0 t
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SOURCE Caliper Life Sciences, Inc. Copyright©2009 PR Newswire. All rights reserved

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