Safeguard Scientifics (SFE) Announces Third Quarter 2011 Financial Results
10/26/2011 6:46:58 AM
WAYNE, Pa.--(BUSINESS WIRE)--Safeguard Scientifics, Inc. (NYSE: SFE), a holding company that builds value in growth-stage life sciences and technology companies, today announced that aggregate partner company revenue for the three months and nine months ended September 30, 2011 was $46 million and $131 million, respectively. Aggregate technology partner company revenue was $41 million, up 26%, and $115 million, up 46%, for the three months and nine months ended September 30, 2011, respectively. For our life sciences partner companies we do not expect significant revenue to be generated by these companies until they are further along in their development. Safeguard reiterated its previously announced guidance for 2011 aggregate partner company revenue of $175 million to $182 million. Aggregate revenue for the same partner companies for 2007, 2008, 2009 and 2010 was $31.5 million, $51.4 million, $78.3 million, and $140 million, respectively. Revenue for Safeguard’s partner companies is reported on a one-quarter lag.