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Caliper's Q3 Revenues Rise 24 Percent

NEW YORK (GenomeWeb News) – Caliper Life Sciences today reported that its third-quarter revenues increased 24 percent year over year, or 16 percent organically, with strong growth for its LabChip, imaging, and research products.

The Hopkinton, Mass.-based firm brought in total revenues of $36.9 million for the three-month period ended Sept. 30, compared to $29.7 million for the third quarter of 2010. It beat the Wall Street consensus estimate of $35.6 million.

Sales for its LabChip products increased 48 percent year over year to $11.5 million from $7.8 million, while revenues for its automation products increased 32 percent to $6.9 million from $5.2 million. Sales for its research products jumped 42 percent to $18.4 million from $13 million, and revenues from imaging products were up 12 percent to $16.2 million from $14.5 million.

Caliper posted a net loss of $782,000, or $.01 per share, compared to $1.3 million, or $.03 per share, for Q3 2010. On a non-GAAP basis, it posted earnings of $1.9 million, or $.03 per share, versus $637,000, or $.01 per share, for Q3 2010. Analysts had expected a loss per share of $.01.

Caliper's R&D spending rose 27 percent to $5.6 million from $4.4 million, and its SG&A expenses climbed 19 percent to $13.1 million from $11 million.

It finished the quarter with $47.3 million in cash, cash equivalents, and marketable securities.

Caliper is in the process of being acquired by PerkinElmer for roughly $600 million. The deal had already cleared regulatory hurdles and is expected to be completed on Nov. 7, Caliper said today.

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