BioLife Solutions, Inc. Announces Preliminary Revenue Results for the Fourth Quarter and Full Year 2017; Provides Earnings Guidance for the Full Year 2018
January 04, 2018 at 11:30 am
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BioLife Solutions, Inc. announced preliminary revenue results for the fourth quarter and full year 2017. Preliminary revenue for the fourth quarter of 2017 was $3.1 million, a 39% increase over the prior-year period.
For the full year 2017, preliminary revenue was $11 million, a 34% increase from 2016. The growth was driven by increased sales to customers in the regenerative medicine segment and worldwide distributors.
The company provided earnings guidance for the full year 2018. Biopreservation media revenue is expected to range between $13.6 million to $14.7 million, representing growth of 25% to 35% over 2017. Gross margin is expected to range between 62% to 64%, compared to 2017 guidance of 60% to 62%. Operating expenses are expected to range from $9 million to $9.5 million, an increase of 13% to 19% compared to 2017 guidance of $8 million. GAAP operating profit is expected on a full year basis.
BioLife Solutions, Inc. is a supplier of cell processing tools and services for the cell and gene therapy (CGT) and broader biopharma markets. Its expertise facilitates the commercialization of new therapies by supplying solutions that maintain the health and function of biologic materials during collection, development, storage and distribution. Its biopreservation media products, HypoThermosol FRS and CryoStor Freeze Media, are formulated to mitigate preservation-induced, delayed-onset cell damage and death which result when cells and tissues are subjected to reduced temperatures. Its bioproduction tools portfolio includes human platelet lysates for cell expansion. It is a provider of biological and pharmaceutical storage and cold chain logistics. Its monitoring systems allow customers real time tracking of the storage temperatures of their materials throughout the logistics process. It operates about five storage facilities in the United States and one facility in the Netherlands.
BioLife Solutions, Inc. Announces Preliminary Revenue Results for the Fourth Quarter and Full Year 2017; Provides Earnings Guidance for the Full Year 2018
BIOLIFE SOLUTIONS, INC. 
