SeraCare Sees Loss As It Makes Changes
SeraCare Life Sciences Inc. of Milford swung to a net loss of $831,000 in the third quarter of 2011 as it absorbed $1.4 million in costs connected with severance charges and the evaluation of alternatives for the company, including a possible sale.
The company, which offers products and services for biological laboratories, had profits of $2 million for the same quarter last year.
SeraCare had $11 million in revenues for the quarter most recent, down from $13.3 million in the same period last year.
The company fired CEO Susan Vogt in July. The company says it is exploring "strategic alternatives," including a possible sale. In June, it received an unsolicited offer from MSMB Capital Management of New York to buy all outstanding shares of the company for $82 million.
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