ATLANTA …Â Serologicals (Nasdaq: SERO), which provides biological products and technologies essential for the research, development and manufacturing of biologically based life science products, reported second-quarter earnings of $3.8 million, or 15 cents a share, on $37.3 million in revenue. Those results compare with $4.8 million, or 20 cents a share, in earnings on $27.2 million in revenue a year ago.
Net income for the most recent quarter reflects a one-time charge of $1.3 million related to the closure of four donor centers.
During the six-month period, the company earned $6.8 million, or 26 cents a share, on $68.8 million in revenue, compared with earnings of $9.2 million, or 38 cents a share, on $53.6 million in revenue during the first half of 2001.
“I am very pleased with the second quarter results, which were in line with guidance we provided last quarter,” President and Chief Executive David A. Dodd said in a statement. “More importantly, I am pleased that our ongoing initiatives, in keeping with our strategic goals, continue to be successful. This includes our organizational, business development, research and development and commercial development programs, which are targeted to not only meet our immediate objectives, but to ensure that we have the foundation to achieve our strategic goal.”
Serologicals expects sales for the third quarter of 2002 to range from $36 million to $38 million and earnings per share to range from 17 to 20 cents. For the full year, the company continues to expect revenue to be in the range of $140 million to $150 million and earnings to be in the range of 80 to 85 cents per share.
“We expect to continue our investment in research and development to identify new commercial opportunities and to expand our customer relationships,” Dodd added. “In addition, we expect to continue to place emphasis on our business development efforts related to acquisitions and licensing.”