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ALPHA INNOTECH REPORTS STRONG FIRST QUARTER
INTERNATIONAL REVENUE GROWTH
May 14, 2008 Alpha Innotech Corp., San Leandro, California
Alpha Innotech Corp. (OTCBB:APNO), a leading provider of bioanalytical systems for drug discovery and life science research, today reported financial results for the quarter ending March 31, 2008.
First quarter revenues of $3.668 million increased 3.4% from the $3.547 million reported in the same period in 2007.
The Company posted a net loss of $2,000 in the first quarter ending March 31, 2008 as compared to a $1,000 net loss in the comparable period of 2007.
Excluding stock-based compensation, interest, and depreciation on a non-GAAP basis, the Company had net income of $338,000 for the first quarter of 2008 compared to $280,000 for the first quarter of 2007. The non-GAAP net income (loss) is reconciled to comparable GAAP net income (loss) in the table entitled Non-GAAP Calculation of Net Income (Loss).
Our focus on the rapidly growing Pacific Rim markets contributed to first quarter international revenues increasing nearly 33% from a year ago, said Ron Bissinger, Chief Executive Officer of Alpha Innotech. Were also looking forward to introducing additional products in our second quarter that will continue our growth momentum.
Additional First Quarter 2008 Achievements
Posted seventh consecutive quarter with positive cash flows from operating activities
Began shipping red, our personal gel imager combining touch screen controls with advanced imaging technology and an integrated onboard computer, all in a uniquely compact footprint
Added sales personnel in Shanghai and Singapore to strengthen the Companys presence in the rapidly growing Pacific Rim region
More information on Alpha Innotech can be found at the Companys website www.alphainnotech.com.
About Alpha Innotech Corp.
Founded in 1992 and with over 10,000 systems sold worldwide, Alpha Innotech is a leading developer, manufacturer and marketer of digital imaging and analysis systems for the life science research and drug discovery markets. Our goal is to combine instruments, reagents and bioinformatics software to offer integrated modular technology platforms for functional genomics, proteomics and cell analysis markets. Our customers include pharmaceutical and biotechnology companies as well as universities, medical centers, government research institutes and agencies worldwide.
The following information was filed by Alpha Innotech Corp on Thursday, May 15, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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