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 Second Quarter 2013 Financial Results

Stocks in this article: RGEN

- Product Revenue Grows 12% for the Quarter on Record Bioprocessing Sales - - Net Income Grows 189% to $4.5 Million - - Earnings Conference Call and Webcast Today at 9:00 a.m. EDT -

WALTHAM, Mass., Aug. 1, 2013 (GLOBE NEWSWIRE) -- Repligen Corporation (Nasdaq:RGEN) today reported financial results for the second quarter ended June 30, 2013. Below are the Company's financial and business highlights for the second quarter of 2013, financial guidance for the year and dial-in numbers for today's conference call.

Second Quarter 2013 Financial Highlights

  • Bioprocessing product revenue for the second quarter of 2013 reached a record $13.0 million, an increase of 12% over the second quarter of 2012.  
  • Total revenue for the second quarter of 2013 was $17.5 million, an increase of 13% over the second quarter of 2012.  
  • Bioprocessing product gross profit margin was 59% for the second quarter of 2013, compared with 37% during the second quarter of 2012.  
  • Net income increased to $4.5 million for the second quarter of 2013 compared to $1.6 million for the second quarter of 2012; earnings per diluted share were $0.14 for the second quarter of 2013 compared to $0.05 for the second quarter of 2012.  
  • Cash and investments as of June 30, 2013 totaled $62.8 million compared to $50.0 million as of December 31, 2012.

Operating expenses for the three-month period ended June 30, 2013 were $11.4 million compared to $14.2 million for the same period in 2012, a decrease of $2.8 million or 20%. This decrease was driven by across-the-board reductions in operating expenses during the second quarter of 2013 compared to the same period in 2012. Cost of product revenue decreased by $2.0 million or 28%; research and development (R&D) expense (including therapeutic program related expense) decreased by $600,000 or 21%; and sales, general and administrative (SG&A) expense decreased by $294,000 or 9%. The reductions in R&D and SG&A expense were primarily due to lower spending on clinical development programs as a result of the Company's strategic realignment announced in August 2012 to focus on building its bioprocessing business.  

1 of 2

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!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

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