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BioLife Solutions Announces 2012 Full Year Results; 10th Consecutive Quarter of Record Revenue
Date:4/1/2013

e biopreservation media products.  We estimate that our HypoThermosol® cell/tissue storage medium and CryoStor® cryopreservation freeze media products are used in more than fifty clinical trial-stage cell and tissue based therapies in the regenerative medicine field, any one of which could generate $1 million per year in revenue, if regulatory and marketing approvals are obtained by our customers."

Fourth Quarter 2012 Financial ResultsTotal revenue for the fourth quarter of 2012 was $2.0 million, compared to $0.8 million in the same period of 2011. The increase of 153% from 2011 to 2012 was due primarily to contract manufacturing revenue and higher sales to customers in the hair restoration field, where HypoThermosol is increasingly being utilized as a new standard for ex vivo storage of hair grafts to improve procedure outcome and patient satisfaction.

Gross margin in the quarter was 36.7% compared to 56.5% in the same quarter last year. The reduction in gross margin was primarily attributable to higher cost of sales on contract manufacturing revenue and higher personnel and other costs included in cost of goods sold related to the expansion of the Company's facilities and production capacity.

Operating expenses in the fourth quarter were $1.1 million compared with $0.7 million in the fourth quarter of 2011 primarily attributable to increased personnel costs associated with strategic hires in all departments. The increase in personnel expenses was partially offset by lower legal costs during the quarter.

For the fourth quarter, the Company reported a net loss of $0.5 million, or $(0.01) per share, compared to $0.4 million or $(0.01) per share in the fourth quarter of 2011. Loss from operations was $0.3 million, compared to
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SOURCE BioLife Solutions, Inc.
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