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Caliper Life Sciences Reports Second Quarter 2009 Results
Date:7/30/2009

ues," commented Kevin Hrusovsky, Caliper's president and CEO. "Despite economic uncertainties, we achieved solid organic revenue growth for the second consecutive quarter, partly due to 23% growth in consumable sales stemming from the ramp up of LabChip and IVIS instrument installations. In addition, our cost savings, productivity gains and inventory reductions significantly reduced cash utilization, accelerating our path toward cash flow breakeven," added Hrusovsky.

2009 Guidance

The Company projects full year revenue of $126 to $129 million, which represents organic revenue growth of 5 to 7% over 2008 pro forma revenue. In addition, the Company reaffirmed its expectation to achieve positive earnings before interest, taxes, depreciation, amortization and stock-based compensation over the second half of 2009 and for the full year 2010.

Caliper reported that its revenue outlook for the third quarter of 2009 is $28 to $32 million compared to pro forma revenue (net of divestitures) of $31 million in the third quarter of 2008.

Caliper cited continuing strong demand for LabChip and IVIS instruments as a key factor in establishing this guidance.

Adjusted Results

Caliper supplements its GAAP financial reporting with certain non-GAAP financial measures. A reconciliation of Caliper's GAAP to non-GAAP Statements of Operations is provided at the end of this release under "Adjusted Consolidated Statements of Operations." Adjusted results of operations exclude acquisition-related revenue adjustments and non-cash expenses, such as amortization of intangibles and impairment and restructuring charges. Caliper believes that providing this additional information enhances investors' understanding of the financial performance of Caliper's operations and increases the comparability of its current financial statements to prior periods.


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SOURCE Caliper Life Sciences, Inc.
Copyright©2009 PR Newswire.
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