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

SeraCare's revenues over the next three to four years."

SeraCare reported revenue of $11.0 million for the quarter ended March 31, 2011 compared to $12.9 million for the same quarter of the prior year, reflecting a 14 percent decrease. Gross margins decreased to 40 percent for the quarter compared to 43 percent for the same quarter of the prior year. SeraCare earned net income of $1.4 million and earnings per share on a basic and diluted basis of $0.07 for the quarter ended March 31, 2011 compared to net income of $2.1 million and earnings per share on a basic and diluted basis of $0.11 during the same period in fiscal 2010.  

Recent Corporate Highlights:

  • Achieved eighth consecutive quarter of profitability during the second quarter of fiscal 2011
  • Appointed a highly experienced Vice President of Sales and Marketing, Sean O'Connor. Mr. O'Connor, previously Director of Strategic Accounts at Ortho Clinical Diagnostics, a Johnson & Johnson company, brings more than 15 years of sales management experience in growing product revenues and creating new channel opportunities to SeraCare
  • Significantly expanded efforts to optimize the sales organization to drive growth, with a continued focus on diagnostics and pharmaceutical product sales in both North America and Europe
  • Introduced two new products in the second quarter of fiscal 2011
  • Increased cash balance to $16.9 million as of March 31, 2011
  • Generated $0.9 million in cash from operations during the quarter ended March 31, 2011, marking our ninth consecutive quarter of positive cash from operations
  • Added two new members to our Board of Directors, Kevin Hrusovsky and Joseph Nemmers—both with extensive experience in the life sciences industry

    • Conference Call Information: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 SeraCar
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    SOURCE SeraCare Life Sciences, Inc.
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