Repligen Reports Third Quarter 2012 Financial Results
Repligen Corporation (NASDAQ: RGEN) today reported financial results for its third quarter and year-to-date period ended September 30, 2012. The Company reported net income for the three-month period ended September 30, 2012 of $1,806,000 or $0.06 per diluted share, compared to $605,000 or $0.02 per diluted share for the same period in 2011, an increase of 199%. Total revenue for the three-month period ended September 30, 2012 was $15,104,000 compared to $8,631,000 for the same period in 2011, an increase of 75%. Revenue growth for the third quarter of 2012 was driven by the Company’s expanded bioprocessing business, which generated $11,123,000 in product revenue compared to $5,742,000 for the same period in 2011, an increase of 94%. Royalty and research revenue for the three-month period ended September 30, 2012, consisting primarily of royalty payments from Bristol-Myers Squibb on its U.S. sales of Orencia ® , was $3,981,000 compared to $2,889,000 for the same period in 2011.