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SeraCare Reports Second Quarter Fiscal Year 2011 Financial Results

9,4215,558,5788,367,30810,475,352Research and development expense

236,451168,332545,698331,605Selling, general and administrative expenses

2,868,4203,407,8175,815,3486,668,223Reorganization items

--(846,094)-Operating income

1,294,5501,982,4292,852,3563,475,524Interest (expense) income, net

(8,943)(25,925)13,339(230,650)Other income, net

15,00027,61815,45230,083Income before income taxes

1,300,6071,984,1222,881,1473,274,957Income tax benefit

93,226112,22593,226103,925Net income

$   1,393,833$   2,096,347$   2,974,373$   3,378,882Earnings per common share   Basic

.18   Diluted

.18Weighted average shares outstanding   Basic

18,905,06218,828,19918,882,88818,783,747   Diluted

19,311,93719,005,35319,286,98419,024,835SERACARE LIFE SCIENCES, INC.BALANCE SHEETS — UNAUDITEDAs OfAs OfMarch 31,September 30,20112010ASSETSCurrent assetsCash and cash equivalents

$ 16,880,652$
,074,915Accounts receivable, less allowance for doubtful accounts of $40,000 as of  both March 31, 2011 and September 30, 2010

6,838,6057,288,133Taxes receivable


9,580,8819,028,809Prepaid expenses and other current assets

246,701333,191Total current assets

33,552,74932,843,534Property and equipment, net6,140,5615,970,179Goodwill4,284,9794,284,979Other assets470,422526,810Total assets$ 44,448,711$
43,625,502LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilitiesAccounts payable

$   1,891,533$
2,787,855Accrued expenses and other liabilities

2,378,7444,041,172Current portion of long-term debt

43,47155,994Total current liabilities

4,313,7486,885,021Long-term debt6,68421,970Other liabilities2,136,8352,216,916Total liabilities

6,457,2679,123,907Commitments and contingenciesStockholders' equityPreferred

SOURCE SeraCare Life Sciences, Inc.
Copyright©2010 PR Newswire.
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