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
TheStreet Open House

Repligen Reports Financial Results For The Quarter And Nine-Month Fiscal Year Ended December 31, 2011

Stocks in this article: RGEN

Repligen Corporation (NASDAQ:RGEN) today reported financial results for the quarter and nine-month fiscal year ended December 31, 2011. These results reflect significant accomplishments of the Company during the period, highlighted by the completion of our acquisition of Novozymes Biopharma Sweden AB on December 20, 2011 and the successful filing of the Company’s first new drug application (NDA) for SecreFlo™ on December 21, 2011. These results include acquisition related expenses of $2,300,000 in the third quarter as well as a $427,000 gain on bargain purchase as the recorded fair value of the assets acquired from Novozymes Biopharma AB exceeded the total purchase price of the acquisition.

Total revenue for the nine-month fiscal year ended December 31, 2011 was $23,450,000 compared to total revenue for the nine-month period ended December 31, 2010 of $21,385,000, an increase of 9.7%. Bioprocessing product revenue for the nine-month fiscal year ended December 31, 2011 was $13,215,000, an 11.9% increase over the nine-month period ended December 31, 2010 and royalty and other revenue was $10,235,000 for the nine-month fiscal year ended December 31, 2011, a 6.9% increase over the nine-month period ended December 31, 2010. Research and development expenses were $9,462,000 for the nine-month fiscal year ended December 31, 2011 compared to $8,745,000 for the nine-month period ended December 31, 2010. Selling, general and administrative expenses were $9,050,000 for the nine-month fiscal year ended December 31, 2011 compared to $5,580,000 for the nine-month period ended December 31, 2010.

Operating expenses for the nine-month fiscal year ended December 31, 2011 were $24,557,000 compared to operating expenses of $19,672,000 for the nine-month period ended December 31, 2010. Net loss for the nine-month fiscal year ended December 31, 2011 was $1,613,000, or $0.05 per diluted share compared to net income of $1,987,000 for the nine-month period ended December 31, 2010 or $0.06 per diluted share. Cash, cash equivalents and marketable securities as of December 31, 2011 were $36,025,000 compared to $61,503,000 as of March 31, 2011. The decrease is primarily due to the Company’s December 20, 2011 acquisition of Novozymes Biopharma Sweden AB for $22.1 million (€17 million) in an all cash transaction.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

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