NEW YORK (GenomeWeb News) — Caliper Life Sciences today said fourth-quarter revenues increased 29 percent as R&D spending was up 34 percent and losses surged 500 percent.
Total receipts for the three months ended Dec. 31, 2006, increased to $34.7 million from $26.9 million year over year.
A majority of that revenue came from product sales, which brought in $23.7 million, up 30 percent compared, while services brought in $8.1 million, a 32-percent increase, and licensing and contracts earned $2.9 million, 14 percent over last year.
R&D spending increased to $6.5 million from $4.8 million year over year.
Caliper’s net losses increased to $8.9 million from $1.5 million. Caliper said that its acquisition of Xenogen was the most significant factor that contributed to the quarterly loss.
Caliper said it had around $11.6 million in cash and equivalents, and $13.3 million in marketable securities as of Dec. 31, 2006.
Caliper projects its 2007 revenue will be between $137 million and $143 million, a jump of between 27 and 33 percent from 2006.