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Orchid Cellmark Reports Second Quarter 2008 Financial Results
Date:7/31/2008

g cost of service revenue, operating expenses for the quarter were $6.6 million compared to $6.2 million for the second quarter of 2007. The operating expense increase was primarily due to general and administrative expenses, which were impacted by professional fees, including non-recurring legal fees related to the successful upholding of Orchid's contract to provide state-wide paternity testing for the State of Florida, which was unsuccessfully protested by a competitor.

Operating loss for the second quarter of 2008 was $1.6 million compared to a $701 thousand loss for the second quarter of 2007. The operating loss increase was principally due to increased general and administrative expenses and a decrease in gross margin. Gross margin for the U.S. business increased for the second quarter of 2008 compared to the second quarter of 2007 largely as a result of a 9% increase in U.S. revenues and improvement in the company's U.S. operations. The company's overall gross margin was negatively impacted by the decrease in gross margin associated with the U.K. operations. U.K. gross margin during the quarter was adversely impacted by lower DNA testing volumes related to the loss of former LGC business and the buildup of capacity in the U.K. to service the significant business the company won under the North West/South West and Wales regional forensics services tender.

Orchid Cellmark reported a net loss of $1.2 million, or $(0.04) per share, for the second quarter of 2008 compared to a net loss of $745 thousand, or $(0.03) per share, for the second quarter of 2007. Net loss for the second quarter of 2008 and 2007 includes charges of $1.2 million and $1.1 million, respectively, for depreciation and amortization.

At June 30, 2008, cash and cash equivalents were $17.3 million.

Thomas Bologna, president and chief executive officer of Orchid Cellmark commented, "The second quarter of this year was quite significant for our company and the results ref
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SOURCE Orchid Cellmark Inc.
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