SeraCare Reports 40% Increase in Net Income Over Prior Year
SeraCare (SRLS) executed six consecutive quarters of successful growth with revenue growth of 13% to $50.4 M for the fiscal year ending SEP 30, compared to revenues of $44.4M year in 2009. Net Income was $6.7M or $0.35/s on a diluted basis compared to a loss of $0.83/sh for the prior fiscal year.
- 14 New Products were introduced in fiscal 2010.
- Generated $14M in cash flow ending the fiscal 2010 with $16.1M of cash.
- Grew European sales by 14%.
SeraCare provides biological products and services to the Global Life Sciences industry. The Company is backed by expertise in immunology,molecular biology,serology and virology. Among the markets served are blood testing and screening,biopharmaceuticals and vaccines, clinical diagnostics and clinical trials.
Life Science Stocks Rally
Seracare was added to the Rayno Life Science Portfolio on 11/18/09 at a Price of $2.75. Among the other big movers on volume in the Portfolio are : Biogen(BIIB) up 2.55%, Exelixis(EXEL) up 2.25%, Regeneron(REGN) up 3%, Nektar (NKTR) up 4% Illumina(ILMN) up 3%,Immucor (BLUD) up 2%,and NeoGen (NEOG) up 4.2%. Healthcare stocks in general underperformed today’s rally (up 1.4% vs 2.3% for technology) but most biotechnology stocks tracked NASDAQ( up 2.2%). Many smaller cap, more speculative biotechnology stocks were strong.