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Caliper's Q1 Revenues, Net Loss Increase 3 Percent

NEW YORK (GenomeWeb News) – Caliper Life Sciences today reported that its first-quarter revenues rose 3 percent but were flat when excluding favorable foreign currency effects. The firm’s net loss also rose 3.1 percent year over year.
 
Caliper brought in revenues of $29.3 million for the three-month period ended March 31, compared to $28.4 million for the first quarter of 2007. Product revenues rose to $17.7 million from $15.3 million, while service revenues increased to $9 million from $8.9 million, and licensing fees and contract revenues dropped sharply to $2.6 million from $4.2 million.
 
The decline in licensing revenue was anticipated, according to Caliper President and CEO Kevin Hrusovsky, and was related to microfluidic licensing revenue in 2007 that was not repeated in the first quarter of 2008.
 
The Hopkinton, Mass.-based company posted a net loss of $9.9 million, or $.21 per share, compared to a net loss of $9.6 million, or $.20 per share, for Q1 2007.
 
Caliper’s R&D expenses declined 19.1 percent to $5.5 million from $6.8 million, while its SG&A costs increased 10.3 percent to $13.9 million from $12.6 million.
 
Caliper finished the quarter with $13.6 million in cash and cash equivalents.

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