NEW YORK, Feb. 18 (GenomeWeb News) - Caliper Life Sciences today reported a 12-percent increase in revenues for the fourth quarter while its net loss narrowed 65 percent.
Caliper had total revenues of $24 million for the period ended Dec. 31, 2004, up from $21 million for the same quarter last year.
The company said R&D spending fell to $4.7 million from $7.6 million year over year.
The company's net loss was $7 million, compared to $20 million in the year-ago period. Caliper said it took a $3.6 million non-cash charge in the quarter for closing the second of its three facilities in Mountain View, Calif. The company said it took the charge because of a "low probability of obtaining sublease income" from the facilities.
Caliper said it had around $9.4 million in cash and cash equivalents and $40 million in short-term marketable securities as of Dec. 31, 2004.
Looking ahead, the company said it expects first-quarter revenues to be between $17 million and $19 million, and to reach operating cash-flow breakeven point in the fourth quarter of 2005. Caliper posted $16.9 million in revenue during the first quarter of 2004.