BioLife Solutions, Inc. Announces Preliminary Revenue Earnings Results for the Year 2016; Provides Guidance for Full Year 2017
January 12, 2017
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BioLife Solutions, Inc. announced preliminary revenue earnings results for the year 2016. The company announced preliminary 2016 revenue of $8.2 million, representing 28% growth in sales of bio-preservation media products compared to the prior year.
The company provides guidance for full year 2017. The company expects revenue growth of 20-25% over 2016 revenue in excess of $10 million. Positive quarterly EBITDAS by the end of 2017. Gross margin, as a percent of sales, between 55% to 60%. Operating expenses ranging from $8 $9 million, reflecting a quarterly decrease of $400,000 $500,000 resulting from the recently announced restructuring of the biologistex joint venture.
BioLife Solutions, Inc. is a supplier of cell processing tools and services for the cell and gene therapy (CGT) and broader biopharma markets. Its expertise facilitates the commercialization of new therapies by supplying solutions that maintain the health and function of biologic materials during collection, development, storage and distribution. Its biopreservation media products, HypoThermosol FRS and CryoStor Freeze Media, are formulated to mitigate preservation-induced, delayed-onset cell damage and death which result when cells and tissues are subjected to reduced temperatures. Its bioproduction tools portfolio includes human platelet lysates for cell expansion. It is a provider of biological and pharmaceutical storage and cold chain logistics. Its monitoring systems allow customers real time tracking of the storage temperatures of their materials throughout the logistics process. It operates about five storage facilities in the United States and one facility in the Netherlands.
BIOLIFE SOLUTIONS, INC. 
