SmurfVA's Random Picks

[SmurfVA]

BLFS - Q2 2014 Financial Highlights

Core product revenue was $2.2 million for the six months ended June 30, 2014, an increase of 29% over the same period in 2013. For the second quarter, core product revenue was $1.1 million, an increase of 14% over the second quarter of 2013, with increased sales to the regenerative medicine market and cell suppliers. Total revenue for the second quarter of 2014 was $1.2 million, a decrease of 48% compared to the second quarter of 2013 due to the cancellation of our contract manufacturing services agreement with an organ preservation company.
Gross margin for the quarter ended June 30, 2014 was 45%, compared to 35.6% in the same period in 2013, driven by the shift in mix toward the Company's more profitable core products in 2014.
Net loss for the second quarter of 2014 increased to $883,356, compared to a loss of $282,506 in the second quarter of 2013 and $559,371 in the first quarter of 2014. The increase in the loss is partially the result of increased expenditures in sales and marketing and G&A to support expansion of the core business and contract manufacturing services.

Mike Rice, BioLife's President & CEO, said, "Second quarter results marked our fourth consecutive quarter of core product revenue of over $1 million reflecting broader adoption of our products in our core regenerative medicine and cell supplier markets. Our primary focus for the rest of the year will be to support the of expansion of our core business and the successful launch of biologistexSM, a cloud-based information service for smart, controlled temperature containers for cells and tissues. We believe biologistex is highly complementary with our proprietary biopreservation media products and greatly strengthens our position as a critical tools provider to the markets we serve. We expect to launch biologistex in the fourth quarter of this year."

Achievements for the Second Quarter of 2014

We announced the execution of a long-term contract manufacturing services agreement with biotechnology company Somahlution LLC, in July 2014. We will manufacture DuraGraft™, a tissue preservation solution for storage of harvested veins used in coronary artery bypass graft (CABG) and other vascular access surgeries. We expect to start generating revenue from this new customer in the fourth quarter of 2014.
TxCell, a French biotechnology company developing innovative, personalized cell-based immunotherapies using antigen specific regulatory T cells (Ag-Tregs) for severe chronic inflammatory and autoimmune diseases, announced the adoption of BioLife's CryoStor clinical grade cell freezing media for use in their European phase IIb clinical trial of Ovasave® immunotherapy for Crohn's Disease which is planned to start in the second half of 2014.
We received the Frost & Sullivan 2014 Technology Innovation Leadership Award for Biopreservation Media, recognizing our position as a market leader.

The Company will host a conference call and live webcast at 4:30 p.m. EDT this afternoon. To access the webcast, log on to the Investor Relations page of the BioLife Solutions website at www.biolifesolutions.com. Alternatively, you may access the live conference call by dialing [phone] (U.S. & Canada) or [phone] (International) with the following Conference ID: 82507281. A webcast replay will be available approximately two hours after the call and will be archived on www.biolifesolutions.com for 90 days.

ref. http://finance.yahoo.com/news/biolife-solutions-announces-second-quarter-200500367.html