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Caliper Life Sciences Reports Third Quarter 2008 Results; Sharpens Growth Focus, Strengthens Balance Sheet and Reduces Costs
Date:11/10/2008

ursuant to which Caliper will sublease approximately 10,000 square feet of manufacturing and office space to SOTAX on a market-rate basis starting in 2009.

-- Caliper Completed a Restructuring into Three Strategic Business Units to Sharpen Focus on Core Product Lines. During the third quarter, Caliper reorganized its various products and services along three core business areas -- Discovery Research (Research), Optical Molecular Imaging (Imaging), and Caliper Discovery Alliances and Services (CDAS) -- with the goal of creating a more scalable infrastructure while putting increased focus on growth and profitability.

-- Research is responsible for utilizing Caliper's core automation and microfluidic technologies to address an expanding array of opportunities in drug discovery and life science research, including molecular biology sample preparation for genomics, proteomics, cellular screening and forensics.

-- Imaging is responsible for expanding Caliper's global leadership position in the high growth optical molecular imaging market through expansion of therapeutic area applications of Caliper's IVIS(R) imaging platform, addressing critical discovery workflows and facilitating additional imaging modalities.

-- CDAS is responsible for expanding drug discovery collaborations and alliances, and increasing sales of drug discovery services. The focus of CDAS is to capitalize on market "outsourcing" trends and to maximize the large contract opportunity with the Environmental Protection Agency under its ToxCast screening program.

-- Reduced Operating Costs and Increased Productivity. The company benefited from cost savings initiatives implemented over the previous twelve months, including actions taken in the third quarter.

-- Upon the closing of the PDQ sale, approximately 23 Caliper employees transferred their employment positions to SOTAX. The total estimated annual cost associated with these employees is approximately $2.0 milli
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SOURCE Caliper Life Sciences, Inc.
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