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Hamilton Thorne announces third quarter results
Date:11/24/2009

sales team is now introducing the benefits of Staccato, including the reduction in procedure time and the elimination of contamination and damage to cells, to key opinion leaders in the stem cell research community."

Financial Results

As the financial results relate to a period preceding the completion of Hamilton Thorne's Qualifying Transaction, these results represent the performance of Hamilton Thorne, Inc. on a standalone basis, and should be read in conjunction with Calotto's financial statements for the three-month period ended July 31, 2009 and its Filing Statement relating to the Qualifying Transaction.

All amounts are in US dollars, unless specified otherwise, and results expressed in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP).

For the three-month period ended September 30, 2009, the Company recorded revenue of $1,463,000, compared with $1,426,000 for the same period last year. For the nine-month period ended September 30, 2009, revenue was $3,598,000 compared to $4,102,000 for the corresponding period last year.

For the three-month period ended September 30, 2009, total operating expenditures were $1,043,000, compared with $1,150,000 for the same period last year. For the nine-month period ended September 30, 2009, total operating expenditures were $3,092,000 compared with $3,390,000 for the corresponding period in 2008.

Research and development (R&D) expenses for the three-month period ended September 30, 2009 were $193,000, compared with $205,000 for the same period last year. R&D expenses for the nine-month period in 2009 were $590,000, compared with $613,000 for the corresponding period in 2008. Sales and marketing expenses for the three-month period ended September 30, 2009 were $524,000, compared with $580,000 for the same period last year. Sales and marketing expenses for the nine-month period ended September 30, 2009 were $1,434,000, compared
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