May 12, 2011
Seracare Income And Profits Down
Seracare Life Sciences Inc. of Milford saw its revenue fall nearly 15 percent to $11 million in the first quarter of 2011 from $12.9 million for the same period last year.
The company's first-quarter profits also fell, dropping 33 percent from $2.1 million to $1.4 million.
Seracare said it is working to improve its sales and marketing organization to drive future revenues. It said by the end of 2011 it will "upgrade" more than half its sales team with new, more experienced staff.
The company reduced its spending on sales and administration from $3.4 million in the first quarter of 2010 to $2.9 million in the most recent quarter.
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