BioLife Solutions Posts Wider Q4 Loss; Stock Loses Over 5% On Friday

BioLife Solutions Inc BLFS posted a wider fourth quarter loss Thursday on increased sales and marketing costs for its products for storing and shipping frozen cells and tissue.

The Bothell, Washington-based company closed Thursday nearly unchanged at $1.81, but lost more than 5 percent on Friday.

BioLife forecasted 2015 revenue growth from proprietary products will increase by between 20 percent and 30 percent, with gross margins between 50 percent and 60 percent.

In the recent fourth quarter, proprietary product revenue increased 21 percent to $1.5 million and gross margin expanded to 60 percent, from 40 percent a year earlier.

BioLife forecasted that its 2015 net loss will increase by as much as 30 percent on continued higher costs for sales and marketing, as well as general and administrative expenses.

In the recent fourth quarter, the company's loss widened to about $1 million, or $0.08 a share, from a year-earlier loss of $484,568, or $0.10 a share, on fewer shares outstanding.

Revenue fell to $1.7 million, from $2.3 million a year earlier, due to a decline in contract manufacturing.

The one accredited analyst who follows the company expected a recent fourth-quarter loss of $0.07 a share, on revenue of $1.37 million.