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Zymark Acquisition Helps Caliper Life Sciences Post Strong Q4 Revenue Growth

NEW YORK, Feb. 26 (GenomeWeb News) - Caliper Life Sciences today reported a substantial surge in fourth-quarter revenue amid decreased R&D spending and a ballooning net loss.

 

Total receipts for the period ended Dec. 31 soared to $21.4 million from $4.9 million one year ago, due largely to the acquisition of Zymark in July 2003, Caliper said.

 

Product revenues generated the brunt of the growth, increasing to $12.9 million in the current fourth quarter from $2.5 million year over year. Orther increases include a $3.2 million deposit for services, and a jump of $2.2 million in license fees.

 

R&D spending in the fourth quarter, however, fell to $8.2 million from $9.9 million year over year. As a result, net loss in the quarter rocketed to $19.9 million, or $.70 per share, from $10.5 million, or $.43, year over year, Caliper said.

 

Caliper said it had around $8.9 million in cash and equivalents, and $57.8 million in short-term investments as of Dec. 31.

 

Click here to read the complete earnings report.

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