NEW YORK (GenomeWeb News) — Caliper Life Sciences today said third-quarter revenues increased 24 percent as R&D spending more than doubled and losses surged 250 percent.
Total receipts for the three months ended Sept. 30 increased to $26.5 million from $21.3 million year over year. Most of that revenue came from product sales, which brought in $18.5 million, while services brought in $6 million and licensing and contracts earned $2 million.
The company said much of the increased revenue may be attributed to sales from Xenogen, which Caliper acquired in August.
Caliper CEO said integration of the new company “is ahead of schedule and we are on track to exceed our cost and revenue synergy goals.”
R&D spending increased to $8.7 million from $4.3 million year over year.
The company said net losses increased to $13.5 million from $3.9 million in the year-ago period. Caliper said the Xenogen acquisition was the “most significant factor” fueling the increased loss.
Caliper said it had around $29.8 million in cash, cash equivalents, and marketable securities as of Sept. 30.
The company said it expects fourth-quarter revenues between $34 million and $38 million, which would be improvements of between 26 percent and 41 percent.