SeraCare Narrows Loss, Maintains Revenue
Milford-based SeraCare Life Sciences Inc. slightly narrowed its net loss to $12 million in its 2008 fiscal year compared to $13.1 million the previous year.
The company, which makes products used in drug discovery, reported an operating loss identical to its $12 million net loss. Revenue for the year increased slightly to $49 million from $47.3 million a year ago and the company kept many of its expenses flat with the exception of research and development, which increased to $1.8 million from $566,000 last year.
During the year, the company, which three years ago filed for bankruptcy and stopped trading its stock on the Nasdaq, began trading on the Nasdaq Global Market stock exchange and consolidated its operations at its Milford headquarters.
Click here to read a recent Worcester Business Journal story about efforts to rebuild SeraCare.
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