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SeraCare Reports Second Quarter Fiscal Year 2011 Financial Results

Thursday, May 12, 2011 General News J E 4
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SERACARE LIFE SCIENCES, INC.

BALANCE SHEETS — UNAUDITED

As Of

As Of

March 31,

September 30,

2011

2010

ASSETS

Current assets

Cash and cash equivalents

$ 16,880,652

$     16,074,915

Accounts receivable, less allowance for doubtful accounts of $40,000 as of

 both March 31, 2011 and September 30, 2010

6,838,605

7,288,133

Taxes receivable

5,910

118,486

Inventory

9,580,881

9,028,809

Prepaid expenses and other current assets

246,701

333,191

Total current assets

33,552,749

32,843,534

Property and equipment, net

6,140,561

5,970,179

Goodwill

4,284,979

4,284,979

Other assets

470,422

526,810

Total assets

$ 44,448,711

$     43,625,502

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

Accounts payable

$   1,891,533

$       2,787,855

Accrued expenses and other liabilities

2,378,744

4,041,172

Current portion of long-term debt

43,471

55,994

Total current liabilities

4,313,748

6,885,021

Long-term debt

6,684

21,970

Other liabilities

2,136,835

2,216,916

Total liabilities

6,457,267

9,123,907

Commitments and contingencies

Stockholders' equity

Preferred stock, $.001 par value, 5,000,000 shares authorized; no shares

  issued or outstanding

-

-

Common stock, $.001 par value, 35,000,000 shares authorized; 18,905,971

  and 18,853,584 shares issued and outstanding as of March 31, 2011 and

  September 30, 2010, respectively

18,906

18,853

Additional paid-in-capital

104,866,516

104,351,093

Retained deficit

(66,893,978)

(69,868,351)

Total stockholders' equity

37,991,444

34,501,595

Total liabilities and stockholders' equity

$ 44,448,711

$     43,625,502

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