Caliper Life Sciences Inc. posted second-quarter sales of $32.1 million, down 5.6 percent compared with $34 million during the same period last year.
But increased consumable sales, reduced inventory and cost-cutting measures brought the Hopkinton, Mass.-based lab equipment and services provider closer to breaking even. Caliper posted a net loss of $4.1 million on the three months ended June 30, compared with a net loss of $6.7 million during the second quarter of 2008, a 39.3 percent reduction.
Caliper president and CEO Kevin Hrusovsky said the company also managed to post an 8 percent increase in organic sales, including a 23 percent boost in sales of consumables used with its lab equipment.
And Caliper’s cash burn was only $400,000 for the quarter, leaving it with $23.5 million in cash and equivalents as of June 30.
Caliper said it expects full-year sales of up to $129 million, which would mean organic growth of up to 7 percent, and forecast positive earnings before interest, taxes, depreciation, amortization and stock-based compensation for the rest of this year and all of 2010.
Third-quarter sales could reach $32 million, the company said.