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SeraCare Reports Second Quarter Fiscal Year 2011 Financial Results
Date:5/12/2011

MILFORD, Mass., May 12, 2011 /PRNewswire/ -- SeraCare Life Sciences, Inc. (NASDAQ: SRLS), a global life sciences company providing vital products and services to facilitate the discovery, development and production of human diagnostics and therapeutics, today reported operational and financial results for its second quarter of fiscal year 2011, ended March 31, 2011.

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"In the second quarter of fiscal 2011, we significantly expanded our efforts to upgrade the sales and marketing organization, a central component of our strategy to drive future revenue growth," said Susan Vogt, President and Chief Executive Officer of SeraCare. "This group will operate under the leadership of Sean O'Connor, SeraCare's new Vice President of Sales and Marketing. We anticipate that when this sales force initiative is completed at the end of this calendar year, we will have upgraded more than 50 percent of our sales team with new, highly experienced representatives. We also recently made strategic changes to our Board of Directors with the election of two new, outstanding members, Kevin Hrusovsky and Joseph Nemmers. Kevin and Joe bring a wealth of industry experience to the Board and I look forward to working closely with them."  

"During the second quarter, SeraCare continued to experience a moderation in revenues due to the ongoing sales force realignment, the conversion of a key customer to a new, jointly developed, custom-manufactured bulk product and the expiration of certain government contracts," said Gregory Gould, Chief Financial Officer. "As a result, we believe the second half of fiscal year 2011 will continue to be a time of transition for the organization; however, we anticipate a return to growth during the first half of fiscal year 2012. We also remain committed to our long-term strategic goal of doubling
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