BioLife Solutions (NASDAQ: BLFS) reported Q4 EPS of $0.04, $0.01 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $5.5 million versus the consensus estimate of $5.49 million.

Revenue from biopreservation media product sales for the fourth quarter of 2018 reached a new record of $5.5 million, an increase of 74% compared with the fourth quarter of 2017. Revenue for the full year 2018 was $19.7 million, an increase of 79% over 2017. Revenue growth was primarily driven by sales of CryoStor® biopreservation media products to the high-growth regenerative medicine segment and BioLife's worldwide distributor network.

Mike Rice, BioLife President & CEO, commented, "2018 was a banner year for BioLife on several fronts, with record revenue of nearly $20 million, our first full year of profitability, the addition of 84 new direct cell and gene therapy customers, and 57 new FDA master file cross references for the use of CryoStor and HypoThermosol in customer clinical trials. We expect to deliver another strong performance in 2019, driven by demand for our biopreservation media products and our newly acquired Astero automated thawing technologies."

GUIDANCE:

BioLife Solutions sees FY19 revenue of $27-30 million, versus the consensus of $28.04 million.

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