- Revenue in Line with Company Estimates Highlighted by 11% Discovery
Products and Services Growth -
HOPKINTON, Mass., Aug. 6 /PRNewswire-FirstCall/ -- Caliper Life Sciences, Inc. (Nasdaq: CALP) today reported second quarter financial results for 2008. Revenues were $34.0 million for the quarter, a decrease of 4% from the prior year quarter of $35.3 million. Revenues were impacted by a $3.5 million decline from 2007 in collaboration-related licensing and contract revenue, and contract delays in Caliper's Discovery Alliances and Services (CDAS) business which were partially offset by growth in discovery (automation and microfluidics) products and services, and overall imaging product line growth. Net loss for the quarter was $6.7 million ($0.14 per share), compared to a net loss of $6.3 million ($0.13 per share) in the same quarter of 2007.
-- Discovery products and services grew 11%, and low double-digit growth for these products and services is expected in the second half of the year.
-- Imaging product line revenue grew 5%, slowed in the quarter by a product mix shift resulting in a lower average selling price of IVIS instruments sold. Caliper anticipates particularly strong double-digit growth in this product line during the third quarter.
-- CDAS revenues declined 2% due to contract delays, however as project efforts accelerate beginning in the third quarter, results are expected to be strong for the second half of the year.
-- Cost reduction actions reduced operating expenses (R&D and SG&A) by $2.2 million, or 11%, from the prior year quarter, and by $1.7 million, or 9%, on a sequential quarter basis.
-- The new LabChip GX instrument series, the next
|SOURCE Caliper Life Sciences, Inc.|
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