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In a release on August 4, the Company noted that second quarter revenues of $4.2 million were flat from the $4.2 million of revenues reported in the same period in 2008.
The Company posted a net loss of $15,785 in the second quarter ending June 30, as compared to a $23,199 net profit in the comparable period of 2008.
Excluding interest, depreciation and share-based compensation, on a non-GAAP basis, the Company had net income of $429,056 for the three months ended June 30, compared to $456,448 for the three months ended June 30, 2008.
In a release, the Company noted that for the six months ended June 30, revenues remained at $7.9 million compared to the $7.9 million for the six months ended June 30, 2008. The Company reported net loss for the six months ended June 30, of $234,748, or $0.02 per share, compared to net income of $21,142, or less than $0.01 per share, for the six months ended June 30, 2008.
Excluding interest, depreciation and share-based compensation, on a non-GAAP basis, the Company had net income of $671,010 for the six months ended June 30, compared to a net income of $794,758 for the six months ended June 30, 2008.
In a release, the Company stated:
On July 14, we received a letter from General Electric Healthcare (GEHC) terminating our supply agreement with them effective May 2010. During the remainder of the term of the agreement we will continue shipping systems to GEHC as customer demand requires. While we may continue to supply GEHC with systems as well as support for their installed base, we assume future revenues will be minimal from GEHC beginning in our third quarter of 2009. During the six months ended June 30, revenue from GEHC was $705,000 compared to $1.4 million for the six months ended June 30, 2008.
"Excluding the GEHC business, our second quarter 2009 revenues grew 17 percent compared to the second quarter of 2008. The growth, during the second quarter of 2009, in our non-GEHC revenues was greater than the nearly $600,000 decline in GEHC revenues for the three months ended June 30, compared to the three months ended June 30, 2008," said Ron Bissinger, Chief Executive Officer of Alpha Innotech Corp. "As a percentage of our total revenues, we have been reducing our dependency on GEHC business since 2007. We expect continuing growth from our own global channel expansions and introduction of new products," he continued.
Recent Product Highlights
-- We launched FluorChem Xplor, a complete solution for the imaging and analysis of 2D gels, chemiluminescent Westerns, and 1D protein and nucleotide gels.
-- We launched our latest software product, AlphaView 3.0 software, which offers automation, improved lab workflow, and increased throughput for imaging customers.
Alpha Innotech is a developer, manufacturer and marketer of digital imaging and analysis systems for the life science research and drug discovery markets.
((Comments on this story may be sent to health@closeupmedia.com))
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