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Caliper Q2 Revenues Jump 20 Percent on Strong Contract Revenue

NEW YORK (GenomeWeb News) – Caliper Life Sciences said today that second-quarter revenues increased 20 percent and net loss declined 51 percent on strong contract revenues.
 
Receipts for the second quarter increased to $24.3 million from $20.3 million in the same quarter last year.
 
In segment results, revenue from product sales slipped slightly to $12.3 million from $12.4 million in the prior year. Service revenue increased 50 percent to $5.4 million, and revenue from license fees and contracts rose 54 percent to $6.6 million, Caliper said.
 
Explaining the results, Caliper said strong demand for its microfluidics product line kept product revenue essentially flat despite a $1.3-million decline in OEM product sales to Affymetrix. The CaliperDriven program drove license and contract revenue growth, while the increase in service revenues was due to the NovaScreen acquisition, the company said.
 
The company spent about $4.9 million on R&D in the second quarter, up 7 percent from $4.6 million in the comparable period last year.
 
Net loss for the second quarter to $2.1 million, compared to a loss of $4.2 million in Q2 2005.
 
Caliper expects revenues between $110 million and $118 million for the full year of 2006.
 
The company also said that Caliper closed its acquisition of Xenogen today. The combined company will continue to be called Caliper Life Sciences.
 
Xenogen recorded revenues of $11.2 million for the second quarter, said Kevin Hrusovsky, Caliper’s president and CEO, and saw a 35-percent growth in IVIS molecular imaging system sales.
 
As of June 30, Caliper had approximately $9.5 million in cash and cash equivalents and around $14.3 million in marketable securities.