SeraCare Life Sciences (SRLS) Misses Q3 EPS by 4c; CEO Departs

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July 26, 2011 7:52 AM EDT
SeraCare Life Sciences (NASDAQ: SRLS) reported Q3 EPS of $0.03, $0.04 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $11 million versus the consensus estimate of $11.82 million.

SeraCare also announced the following leadership changes.
  • Susan Vogt, previously CEO of SeraCare, is no longer with the Company. She guided SeraCare during the past five years and led a reorganization, a return to profitability and improved operations.

  • Greg Gould has been named interim CEO and continues in his role as CFO.

  • The Board has started a search for a new CEO. Healthcare industry veteran and Chairman of the Board Joseph Nemmers will work closely with management during the transition period.

  • The head of business development is no longer with the Company. The Board is continuing its review of the Company's current business development processes and expects to make appropriate changes to improve performance.

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