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Caliper Enters Black After Settling Lawsuit

NEW YORK, Oct 31 - Caliper Technologies said Tuesday a $12 million settlement in a breach of duty and trade-secret misappropriation lawsuit helped push it into the black, posting net income of $6.1 million, or 25 cents a diluted shared, compared with a net loss of $3.6 million, or 23 cents a diluted share, a year ago. In a separately announcement Tuesday, Caliper said the US District Court for the Northern

Excluding the litigation settlement, the company posted a net loss of $5.9 million, or 27 cents a diluted share.

District of California partially granted a summary judgment that its LabChip products do not infringe on a patent held by Aclara BioSciences. The court, however, did not grant summary judgment on other issues, which it said would need to be dealt with in a trial.

Last week a jury awarded Caliper $52 million in damages in a lawsuit that found Aclara liable for violating Caliper’s trade secrets.

Caliper’s total revenues for the third quarter increased 61 percent to $5.5 million from $3.4 million a year ago, due in part to the company’s collaboration with Agilent Technologies, its technology access program, and increased sales of chips and instruments.

Higher R&D and administrative costs and amortization of deferred stock compensation pushed operating expenses up 85 percent to $13.3 million.

At the end of the quarter Caliper had $133.8 million in cash, cash equivalents, and short-term securities.

At the end of the quarter Caliper had $133.8 million in cash, cash equivalents, and short-term securities.

During the quarter Caliper and Agilent released Protein 200 LabChip kit, which can be used for the automated sizing and analysis of protein samples. And, in September Caliper launched the Automated Microfluidics System 90, which is designed to provide microarray and cloning laboratories a solution for high volume nucleic acid fragment analysis.

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