Caliper Life 3Q loss narrows on lower costs

AP News
Posted: Nov 09, 2009 5:50 PM

Caliper Life Sciences Inc., which makes technologies used for drug development, said Monday its third-quarter loss narrowed on lower costs and charges.

For the period ended Sept. 30, Caliper reported lost $3.4 million, or 7 cents per share, compared with a loss of $5.4 million, or 11 cents per share, in the same period last year. Revenue fell 5 percent to $32.2 million from $34 million.

Meanwhile, costs and expenses fell 9 percent to $35.3 million on lower restructuring charges and research and development costs.

Looking ahead, the company said it expects fourth-quarter revenue between $34.5 million and $36.5 million. It expects full-year revenue between $127 million and $129 million.

Shares of Caliper rose 40 cents, or 19 percent, to $2.55 in afternoon trading. The stock has traded between 63 cents and $3.02 over the last 52 weeks.