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SeraCare Reports Fiscal Year 2011 and Fourth Quarter Financial Results
Date:11/17/2011

sis, compared to net income of $2.0 million, or $0.11 per share on a basic and diluted basis, for the year ago quarter. The decline in earnings per share was primarily due to $1.4 million of costs related to severance charges and the evaluation of strategic alternatives over the quarter.

For the year ended September 30, 2011, SeraCare reported revenue of $43.5 million, a 13.7 percent decrease compared to $50.4 million in revenue for the year ended September 30, 2010. Gross margins decreased to 38.5 percent compared to 41.3 percent for the prior year. The Company earned net income of $2.7 million and earnings per share on a basic and diluted basis of $0.14, compared to net income of $6.7 million and earnings per share on a basic and diluted basis of $0.36 and $0.35, respectively, during fiscal 2010. The Company continues to maintain a strong balance sheet with $18.1 million in cash and minimal debt.

"SeraCare is executing on plan and with a great sense of urgency to put the Company on a growth trajectory that creates value for our customers and our shareholders," said Joseph Nemmers, Chairman of the Board. "Employees at SeraCare have done an excellent job during this time of transition. While we remain focused on improving the customer experience and our financial results, the Board of Directors, as previously reported, is also evaluating strategic alternatives and will continue to act in the best interest of our shareholders."

Conference Call Information:SeraCare will host a conference call today, November 17, 2011, at 8:30 a.m. Eastern Time. The conference call will be webcast live over the Internet and can be accessed by logging on to the "Investor Center, Events" section of the SeraCare Life Sciences website at www.seracare.com. The call can also be accessed by dialing (800) 706-7741 (within the United States) or (617) 614-3471 (outside the United States). The passcode for participants is 15885680.<
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SOURCE SeraCare Life Sciences, Inc.
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