Caliper Life Sciences reported its financial results for the first quarter of 2011. First quarter revenue increased to $35.8 million, or 25%, from $28.7 million in the same period of 2010. This increase was principally driven by year-over-year 26% organic growth of comparable product, service and license revenues. Cambridge Research & Instrumentation, Inc. (“CRi”), which Caliper acquired in December 2010, contributed $2.6 million to first quarter 2011 revenues. This contribution was offset by a similar amount of revenue in the first quarter of 2010 from product lines that Caliper divested in May 2010.
Caliper reported a 2011 first quarter GAAP net loss of $2.6 million, or $0.05 per basic and diluted share, compared to a net loss of $2.2 million, or $0.04 per basic and diluted share, in the same period of 2010. Non-GAAP net income, which is adjusted for intangibles amortization, acquisition-related costs and restructuring charges, was $0.3 million in the first quarter of 2011, or $0.01 per diluted share, compared to a non-GAAP net loss of $0.9 million, or $0.02 per diluted share, in the same period of 2010.
Caliper reported cash flows from operations of $0.1 million during the first quarter of 2011 compared to $(0.8) million during the same period of 2010, and also reported cash and marketable securities of approximately $35.2 million and no outstanding short-term borrowings under its credit facility as of March 31, 2011.
Caliper also stated that it increased its full year 2011 revenue estimates.
Source: Caliper Life Sciences