Bothell-based BioLife Solutions announced third quarter financial results

Bothell-based BioLife Solutions, Inc. announced financial results for the third quarter of 2014 on Nov. 6.

  • Thursday, November 6, 2014 7:20pm
  • Business

Bothell-based BioLife Solutions, Inc. announced financial results for the third quarter of 2014 on Nov. 6.

“In the third quarter we continued to execute on driving continued adoption of our proprietary clinical grade biopreservation media products and investing to build out the infrastructure for biologistex, the cold chain management services joint venture we formed with SAVSU Technologies,” BioLife’s President and CEO Mike Rice said. “This is a very exciting phase in BioLife’s corporate development. We look forward to leveraging the strong franchise we have built in the regenerative medicine market with sales of our complementary biologistex offering. Yield, stability, and quality of biologics are critical determinants of efficacy and commercialization success for our customers and it’s rewarding to see our key markets realize this and recognize the value our products and services provide.”

Third quarter 2014 financial highlights:

• For the third quarter of 2014, core product revenue was $1.2 million, an increase of 24 percent over the third quarter of 2013 and 15 percent over the second quarter of 2014, driven by increased direct sales to the regenerative medicine and drug discovery markets and growth in sales to distributors.

• Core product revenue was $3.5 million for the nine months ended Sept. 30 an increase of 27 percent over the same period in 2013. Total revenue for the third quarter of 2014 decreased 43 percent compared to the third quarter of 2013 due to the cancellation of a contract manufacturing services agreement with an organ preservation company.

• Gross margin for the quarter ended Sept. 30 was 47.3 percent, compared to 41 percent in the same period in 2013, and 45 percent in the second quarter of 2014 driven by the shift in mix toward the Company’s more profitable core products in 2014.

• Net loss for the third quarter of 2014 was $900,000, compared to a loss of $300,000 in the third quarter of 2013 and $900,000 in the second quarter of 2014. The increase in the loss from the same period in 2013 is primarily the result of the reduction in contract manufacturing revenue and increased expenditures in sales and marketing and G&Arelated to the formation of the biologistex CCM, LLC joint venture.

In consideration of how we voice our opinions in the modern world, we’ve closed comments on our websites. We value the opinions of our readers and we encourage you to keep the conversation going.

Please feel free to share your story tips by emailing

To share your opinion for publication, submit a letter through our website Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) We reserve the right to edit letters, but if you keep yours to 300 words or less, we won’t ask you to shorten it.

More in Business

Sound Publishing operates the following titles in King County: Federal Way Mirror, Auburn Reporter, Kent-Covington Reporter, Renton Reporter, Enumclaw Courier-Herald, Kirkland Reporter, Bellevue Reporter, Snoqualmie Valley Record, Issaquah Reporter, Redmond Reporter, Bothell-Kenmore Reporter, Mercer Island Reporter and the Vashon-Maury Island Beachcomber.
Bothell-Kenmore Reporter to suspend print publication

As the coronavirus pandemic continues to rapidly evolve across the globe, the… Continue reading

COVID-19 gathering restriction delays funerals

For one funeral home owner, the confusion came to a head after a recent service.

Carolina Smoke owner David Hayward packages up orders to go on March 22 in Bothell. Olivia Vanni/staff photo
Carolina Smoke in Bothell offers down-home barbecue comfort

During the shutdown, take home an order of restaurant owner David Hayward’s brisket, pulled pork, ribs and sides.

Bothell spirits maker now producing hand sanitizer

Wildwood Spirits Co. has decided to give the community something it’s lacking.

Boeing plants in Puget Sound area to close; infected Everett worker dies

To the relief of anxious employees, the company said it will shut down factory operations for two weeks.

For sale sign hanging in front of house. File photo
Open houses close due to coronavirus concerns

Northwest Multiple Listing Service halts large group home tours amid pandemic.

Customers buying high volume of products at cannabis shops

Retail establishments get the green light to remain open during COVID-19 pandemic.

AG Ferguson warns of scams related to COVID-19

Washingtonians should be skeptical of claims about virus

‘It’s the time to do collective action’: Kenmore’s Souaiaia does his part amid outbreak

Butcher Shop Cafe owner keeps a safe distance while forming close ties with customers.

Most Read