November 7, 2007
Caliper reports $2.4M loss
By Cory Hopkins
Caliper Life Sciences Inc., a Hopkinton-based biotech company, reported a net loss of $2.4 million for the third quarter, an 82 percent decrease from last year's $13.5 million loss during the same time period.
The company also reported a 38 percent increase in revenues for the third quarter compared to the same time last year.
The company posted revenues of $36.7 million for the quarter, up from $26.5 million last year.
Revenue gains were attributed to last summer's acquisition of Xenogen Corp., growth in its drug discovery services and increased microfluidics license fees. The reduction in net loss was the result of an improved cost structure and ongoing cost-reduction initiatives, the company said.
The third quarter revenues exceeded the company's previously announced third quarter guidance of $31 million to $35 million.
The company also reported a 38 percent increase in revenues for the third quarter compared to the same time last year.
The company posted revenues of $36.7 million for the quarter, up from $26.5 million last year.
Revenue gains were attributed to last summer's acquisition of Xenogen Corp., growth in its drug discovery services and increased microfluidics license fees. The reduction in net loss was the result of an improved cost structure and ongoing cost-reduction initiatives, the company said.
The third quarter revenues exceeded the company's previously announced third quarter guidance of $31 million to $35 million.
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