Caliper Q4 Total Revenue Up 3%
The company reported an operating income of $959,000 for the fourth quarter of 2009, compared to an operating loss of $48.42m for the same period in 2008. Net income was $5.85m, or $0.11 per diluted share, compared to a net loss of $46.27m, or $0.95 per diluted share, for the comparable period in 2008.
For the full year ended December 31, 2009, the company posted total revenue of $130.41m, compared to $134.05m for 2008. Operating loss was $12.2m for 2009, compared to $69.53m for 2008. Net loss was $8.22m, or $0.17 per share, compared to $68.29m, or $1.42 per share, for the comparable period in 2008.
The company has completed the strategic sale of small animal services business (XenBio) to Taconic Farms in an all cash transaction valued at approximately $11m of cash, including $9.7m of net proceeds received in the fourth quarter of 2009.
Kevin Hrusovsky, president and CEO of Caliper, said: “We were pleased with our financial results and strategic progress in 2009. LabChip and IVIS revenues grew over 20 percent in 2009 and now represent nearly 70 percent of total revenues. This revenue is largely derived from patent protected products and is among our most profitable revenue, allowing us to increase gross margins and achieve EBITDA positive performance a year ahead of schedule.”
Can the company improve its performance in Q1 2010?
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