Orchid Cellmark Reports Third Quarter 2007 Financi...(quarter of 2007 also included a $75thous...),Health

Operating loss for the third quarter of 2007 was $466 thousand, compared to an operating loss of $638 thousand for the third quarter of 2006, a decrease of 27%.

Orchid Cellmark reported a 47% decrease in net loss for the third quarter of 2007 compared to the third quarter of 2006. The company incurred a net loss of $707 thousand, or $(0.02) per share, for the third quarter of 2007, compared to a net loss of $1.3 million, or $(0.05) per share, for the third quarter of 2006.

Total revenues for the nine months ended September 30, 2007 were $45.3 million compared to $41.9 million for the same period last year, an increase of 8%. Operating loss decreased by $8.3 million or 75% from $11.1 million for the nine months ended September 30, 2006 to $2.8 million for the nine months ended September 30, 2007. This significant reduction in operating loss is due to increased gross margins coupled with overall expense reductions. Net loss for the nine month period was $3.1 million, or $(0.11) per share, as compared to $12.2 million, or $(0.50) per share, for the same period in 2006.

At September 30, 2007, cash and cash equivalents were $24.5 million, an increase of $650 thousand for the quarter, and restricted cash was $958 thousand. In the third quarter of 2007, cash generated by operations was $744 thousand and cash used for capital expenditures was $297 thousand. The effect of foreign currency translation also favorably impacted the cash balance by $275 thousand in the quarter. The company had no short or long term debt as of September 30, 2007.

Orchid Cellmark's President and Chief Executive Officer, Thomas Bologna, commented, "The third quarter results reflect our focus on forensics and paternity revenues, reducing expenses and generating positive cash flows. Largely for reasons beyond our control, our ag
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