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Caliper Posts Sharp Increase in Q3 Revenue (Thanks, Zymark!) Amid Widened Loss

NEW YORK, Nov. 6 (GenomeWeb News) - Caliper Technologies today reported a significant increase in third-quarter - largely as the result of its acquisition of Zymark this summer - atop narrowed R&D spending widened net loss.

 

Total revenue for the period ended Sept. 30 jumped to $16.5 million from $6.6 million year over year. Meantime, R&D costs in the third quarter fell to $9 million from $10.9 million over the same period last year.

 

Still, net loss grew to $10.1 million, or $.37 per share, from $9.4 million, or $.38 per share, in the third quarter 2002.

 

Caliper said it had around $5 million in cash and equivalents as of Sept. 30.

 

As GenomeWeb News reported in June, Caliper acquired closely held lab automation firm Zymark from its parent firm, the Berwind Company, for $57 million cash and 3.15 million shares of Caliper stock.

 

Caliper said Zymark's lab-automation product line and sales force would provide a broader commercial outlet for its own microfluidic LabChip platform.

 

In July, Zymark became a wholly owned subsidiary of Caliper, and continues to sell products under its own name. The new company's headquarters is based in Hopkinton, Mass.

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