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Caliper Life Sciences Reports Third Quarter 2011 Results
Date:11/3/2011

orable currency benefit.  Revenue growth for each of Caliper's three principal business units was as follows:
  • Research revenue grew 42%, comprised of microfluidics (LabChip) and automation product line growth of 48% and 32%, respectively.  Both LabChip and automation performance was driven by end market demand for Caliper's products for next generation sequencing sample preparation and quality control applications.  Revenue from instrument services increased by 14% and microfluidic license and royalty revenues increased by 73% during the third quarter, contributing to the business unit's overall performance.
  • Imaging revenue grew 12% driven primarily by tissue imaging product line revenues of Cambridge Research & Instrumentation Inc. (CRi), which Caliper acquired in December 2010.  In vivo imaging revenue decreased approximately 1% primarily due to changes in product and channel mix that resulted in a lower average selling price per instrument sold during the third quarter; however, this impact was partially offset by service and license revenue growth. 
  • Services (CDAS) revenue grew 3% primarily attributable to increased government revenues from CDAS' contract with the Environmental Protection Agency (EPA) under the EPA's ToxCast screening program, which were partially offset by lower commercial service revenues.
  • Total gross margin was relatively flat at 53% compared to the third quarter of 2010.  Product gross margins increased 2 percentage points as a result of volume and product mix improvements.  However, the product gross margin improvement was offset by decreases in service gross margins, due to increased investment in personnel costs to support incremental revenue growth, and contract and license gross margins, due to higher third-party royalties and sublicense fees.
  • Operating expenses (research and development, and selling, general and administrative costs) increased
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  • SOURCE Caliper Life Sciences, Inc.
    Copyright©2010 PR Newswire.
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