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Caliper Cuts ’06 Outlook as SEC Review Delays Xenogen Acquisition

This article and headline have been updated from a previous version to clarify that Caliper lowered its outlook because of an SEC review of the Xenogen acquisition. 

 

NEW YORK, July 13 (GenomeWeb News) - Caliper Life Sciences lowered its previously announced financial outlook for the year due to an SEC review of the company's plan to buy Xenogen, which delayed the acquisition, the company said today.

 

Caliper revised its 2006 revenue forecast from between $120 million and $128 million to between $110 million and $118 million. A Caliper spokeswoman said that the US Securities and Exchange Commission selected the filing for review, which set the acquisition back by three months.

 

As GenomeWeb News reported in February, Caliper announced it would buy Xenogen for $80 million in stock and expected the transaction to close in the second quarter.

 

The delay required the company to adjust its projected revenues, which originally included Xenogen's second-quarter revenues, the spokeswoman said.  

 

The companies said they plan to hold a stockholder meeting on Aug. 9 to approve the acquisition.

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