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Caliper Life Sciences Reports First Quarter 2011 Results
Date:5/2/2011

DAS business unit grew 93% primarily attributable to revenues from CDAS' contract with the Environmental Protection Agency under its ToxCast™ screening program.
  • First quarter 2011 total gross margin was approximately 52%, consistent with the same period in 2010.  Combined product and service gross margin increased by 143 basis points to approximately 48% from 47% in the same period in 2010.  Purchase accounting adjustments to value acquired CRi inventory at fair value negatively impacted combined product and service gross margin by 145 basis points.  Net of purchase accounting effects, the improvement in product and service gross margin resulted from higher CDAS revenue, favorable changes in product mix and lower raw material product costs.  
  • First quarter operating expenses (research and development, and selling, general and administrative costs) increased 26% to $19.1 million, from $15.2 million in the same period in 2010.  Approximately one-half of the increase was attributable to incremental operating expenses incurred as a result of CRi's operations and the remainder of expense increase resulted primarily from increased investment in sales and marketing efforts and increased legal expenses due to ongoing litigation.
  • In the first quarter, Caliper recorded a restructuring charge of approximately $0.9 million which was primarily comprised of a $0.5 million charge for additional severance costs in connection with the acquisition of CRi. Caliper also recorded $0.4 million in idle facility charges in connection with updating sublease assumptions.  Caliper is also anticipating a further facility restructuring charge of approximately $1.0 million in the third quarter of 2011 upon the full closure of CRi's manufacturing facility in Woburn, Mass.

  • Recent Business Highlights

  • Caliper sponsored a symposium on personalized medicine at the American Association for Cancer Research (AA
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  • SOURCE Caliper Life Sciences, Inc.
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