Business
Repligen Reports First Quarter 2020 Financial Results and Updates Full Year 2020 Financial Guidance
Reports record quarterly revenue of $76.1 millionOverall revenue grew 25% year-over-year, with organic growth of 16% Strong order load through first four
About this update from Repligen Corporation
[{"type":"text","content":"Reports record quarterly revenue of $76.1 millionOverall revenue grew 25% year-over-year, with organic growth of 16% Strong order load through first four months WALTHAM, Mass., May 06, 2020 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today reported financial results for its first quarter ended March 31, 2020. Provided in this press release are financial highlights for the quarter, updates to our financial guidance for the year 2020 and access information for today’s webcast and conference call.\n Tony J. Hunt, President and Chief Executive Officer said, “I’m really pleased with our flexibility and performance during the first quarter, while adapting to the challenging economic environment. We exceeded our financial goals, reporting record quarterly revenue and organic growth of 16% backed by strong order demand. The story of the quarter was the continued momentum at gene therapy accounts and strength in our chromatography and filtration franchises, with our proteins business performing above expectations.” Mr. Hunt added, “The majority of our focus in Q1 and here again in Q2 is on employee health and safety while working together to keep our factories and supply chain fully open and operational during the COVID-19 pandemic. The dedication of our employees has been remarkable, and I especially want to thank those in our manufacturing and customer-facing organizations who have helped deliver on our commitments. While there are clearly uncertainties as to how the year plays out, we remain optimistic about 2020 as we execute on our strategy of bringing new products to market, further developing the gene therapy space and continuing to pace our investments as we expand our manufacturing capacity.” Financial Highlights for the First Quarter 2020 Revenue increased by 25% year-over-year as reported and 16% organically, to $76.1 millionGAAP gross margin increased to 58.0%, a year-over-year increase of 220 bpsAdjusted gross margin (non-GAAP) increased to 58.5%, a year-over-year increase of 250 bpsGAAP fully diluted EPS increased to $0.18 compared to $0.17 for the first quarter of 2019Adjusted fully diluted EPS (non-GAAP) increased to $0.32 compared to $0.26 for the first quarter of 2019 Financial Details for the First Quarter 2020 REVENUE Total revenue for...