It appears from today's news release that the company executed well in the first quarter.
Company Press Release
LJL BioSystems' First Quarter Revenues up 129% Compared to
Last Year
-- Continued strong demand from existing and new customers in drug discovery and
genomics
SUNNYVALE, Calif.--(BUSINESS WIRE)--April 25, 2000-- LJL BioSystems, Inc. (Nasdaq: LJLB - news), a leading provider of infrastructure tools for accelerating drug discovery, today announced record financial results for the first quarter, ended March 31, 2000. Revenues of $3.1 million for the first quarter of 2000 compare to revenues of $1.4 million for the first quarter of 1999.
``We are especially pleased with the 129% increase in revenues compared to the first quarter last year and the expansion in all areas of our business. During the quarter, we extended our penetration into the emerging market for genotyping of single nucleotide polymorphisms (SNPs) with several new customers buying our HEFP(TM) platform,'' stated Lev J. Leytes, chairman and CEO of LJL. ``At the same time, we continued adding new customers and receiving strong follow-on orders from existing pharmaceutical and biotechnology companies to expedite and enhance their drug discovery efforts.''
For the first quarter, gross margins were 64% compared to 49% for the first quarter of 1999. Higher volume and a favorable product mix, including strong sales of the Company's ultra-high throughput systems and consumable products, contributed to the year-over-year improvement. Financial results, including revenues and gross margins, may fluctuate in the future due to product mix and sales volumes, seasonality and other factors.
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