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Caliper Posts Lighter Q2 Revenues Amid Fallen R&D Costs, Narrowed Loss

Jul 31, 2003

NEW YORK, July 31 - Caliper Technologies today reported a falloff in total revenue amid decreased R&D spending and a narrowed net loss.

 

Total revenues for the period ended June 30 fell to $5.9 million from $7.2 million year over year. From that, product revenue fell to $3.4 million from $4.5 million in the second quarter of last year. Caliper attributed the decline to a decrease in product sales to Amphora, though it was offset by increases in Caliper's drug-discovery products sales to "unrelated customers" and sales under Caliper's collaboration with Agilent Technologies.

 

Second-quarter R&D spending fell to $8.8 million from $11.5 million in the year-ago period.

 

Net loss in the quarter decreased to $9.5 million, or $.39 per share, from $11.4 million, or $.47 per share, in the second quarter of 2002. Caliper said contributing to the net loss was a restructuring charge of $322,000 in the second quarter that followed a round of layoffs.

 

Caliper said it had around $55 million in cash and cash equivalents.

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