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Caliper's Q3 Revenues Rise 38 Percent as Net Loss Narrows 82 Percent

NEW YORK (GenomeWeb News) - Caliper Life Sciences today said that its third-quarter revenues rose 38 percent on strong microfluidics sales and net loss fell 82 percent.
 
For the three months ended Sept. 30, Caliper’s revenues increased to $36.7 million from $26.5 million year over year. The firm attributed the growth to last year’s acquisition of Xenogen, its drug-discovery services, and increased license fees from its microfluidic products.
  
Sales for Caliper’s microfluidics instruments and reagents grew 49 percent year over year. The firm attributed growth in that segment to the introduction earlier this year of its LabChip EZ Reader and ongoing sales of its LabChip 90 platform.
 
Microfluidics growth was offset by IVIS imaging revenues, which declined $1.5 million year over year, the firm said. Caliper said it anticipates imaging products will recover to “a sustainable 16 percent growth rate” in the fourth quarter and beyond.
 
The firm’s service revenue grew 71 percent in the quarter.
 
Caliper’s R&D costs shrank 34 percent to $5.7 million from $8.7 million year over year.
 
The company’s third-quarter net loss declined 82 percent to $2.4 million from $13.5 million in the comparable period a year ago.
 
Caliper finished the quarter with $14.2 million in cash and equivalents.
 
The firm expects to report revenues in a range of $37 million to $40 million for the fourth quarter, or between 6.6 percent and 15.3 percent better than the same period last year.