Caliper Life Sciences Inc. (NSDQ:CALP) slashed its net losses by two-thirds despite posting flat sales for the second quarter.
The Hopkinton, Mass.-based laboratory instruments and services provider reported sales of $28.7 million for the three months ended March 31, up 0.6 percent compared with $28.5 million during the same period last year.
Net losses for the quarter were $2.2 million, or 4 cents per share, down 66.6 percent compared with $6.7 million (14 cents per share) during Q1 2009.
Excluding revenues from the AutoTrace product line Caliper sold in November 2008 and the Xenogen Biosciences Corp. subsidiary it ditched in December 2009, sales grew 13 percent compared with the year-ago period.
Caliper said the bottom-line improvements were largely due to improvements to its gross margin and lower operating costs.
The company said it expects revenue growth of between 4 percent and 6 percent for the full year, up from its previous guidance of 3 percent to 6 percent growth.