This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Repligen Reports Second Quarter Fiscal Year 2012 Financial Results

Stocks in this article: RGEN

Repligen Corporation (NASDAQ: RGEN) today reported results for the second quarter of fiscal year 2012, ended September 30, 2011. Total revenue for the second quarter was $8,631,000 compared to total revenue of $7,307,000 for the second quarter of fiscal year 2011, an increase of $1,324,000 or 18%. Bioprocessing product revenue for the second quarter was $5,742,000, the highest level recorded to date, compared to $4,416,000 for the second quarter of fiscal year 2011, an increase of 30%. Sales benefited from a periodic order for a Protein A resin product in which Protein A is immobilized to beads which are ready for use by end-users. Royalty and research revenue for the second quarter, consisting primarily of royalty payments from Bristol-Myers Squibb on the U.S. sales of Orencia ®, was $2,889,000 compared to $2,891,000 for the second quarter of fiscal 2011.

Operating expenses for the second quarter were $8,079,000 compared to $6,780,000 for the second quarter of fiscal year 2011. This increase in operating expenses includes a $680,000 increase in selling, general and administrative expenses related to increased commercial activities supporting our bioprocessing business and pre-commercial activities for RG1068 and approximately $800,000 associated with cost of product revenue due to higher sales. Net income for the second quarter was $605,000 or $0.02 per diluted share, compared to net income for the second quarter of fiscal year 2011 of $623,000 or $0.02 per diluted share. Cash, cash equivalents and marketable securities as of September 30, 2011 were $58,274,000 compared to $61,503,000 as of March 31, 2011. This decrease in cash was due primarily to temporary changes in working capital due to the timing of customer payments that were received after September 30, 2011.

“We are very pleased to have achieved record bioprocessing product sales this quarter,” stated Walter C. Herlihy, President and Chief Executive Officer of Repligen Corporation. “Today we also announced the transformative acquisition of the business of Novozymes Biopharma Sweden which delivers on our goal of transitioning the company into a commercially focused organization and accelerates our path to near-term sustainable profitability.”

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs