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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 12, 2000
LJL BIOSYSTEMS, INC.
(Exact name of registrant as specified in its charter)
000-23647
(Commission File Number)
DELAWARE 77-0360183
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
405 TASMAN DRIVE
SUNNYVALE, CA 94089
(Address of principal executive offices, with zip code)
(408) 541-8787
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On January 12, 2000, LJL BioSystems, Inc. pre-announced fourth quarter
financial results. Further details regarding this announcement are contained in
the company's news release dated January 12, 2000 attached as an exhibit hereto
and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Exhibits:
99.6 LJL BioSystems, Inc. News Release dated January 12, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LJL BIOSYSTEMS, INC.
Date: January 12, 2000 By: /s/ Lev J. Leytes
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Lev J. Leytes
President and CEO
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Exhibit 99.6
FOR IMMEDIATE RELEASE
CONTACTS:
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LJL BIOSYSTEMS, INC.: MEDIA RELATIONS:
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LARRY TANNENBAUM FRIESTEDT INTERNATIONAL
CFO AND SENIOR VICE PRESIDENT SUSANNE FRIESTEDT
408-548-0542 619-223-8844
[email protected] [email protected]
LJL BIOSYSTEMS, INC. PRE-ANNOUNCES RECORD FOURTH QUARTER 1999 REVENUE GROWTH
OF GREATER THAN 140%
- Growing customer base, including three new pharmaceutical customers:
Pfizer, Hoffman-La Roche and Warner-Lambert
- Strong repeat business, European sales and reagent purchases highlight
quarter
- 100th system shipped in fourth quarter
SUNNYVALE, CA - JANUARY 12, 2000 - LJL BioSystems, Inc. (NASDAQ: LJLB) today
announced preliminary revenue of approximately $4.0 million for the fourth
quarter ended December 31, 1999. These initial results compare to revenue of
$1.6 million in the fourth quarter of 1998 and represent more than a 140%
increase over the year ago quarter and more than 50% growth from the third
quarter of 1999. Anticipated losses for the quarter will be less than
expected due to the strong revenue. For the full year, LJL expects to report
approximately $9.9 million in revenue, more than a 120% increase over 1998
revenue. The Company expects to end the year with cash, cash equivalents and
investments of approximately $8.5 million compared to $ 9.5 million as of
September 30, 1999. Final results will be reported on February 2, 2000.
During the fourth quarter, LJL added several new customers, including three
major pharmaceutical companies: Pfizer, Hoffman-La Roche, and Warner-Lambert.
The Company shipped its 100th system just a little more than one and a half
years after commencing shipment of its first High Throughput Screening (HTS)
instrument. During this time, LJL has successfully penetrated its target
customer base, and sold systems to 21 of the top 25 pharmaceutical companies
in the world, with approximately two-thirds of those customers ordering more
than one unit.
"We are exceptionally pleased with our achievements in the fourth quarter and
for the entire year. Demand for our systems remains excellent as many of our
customers continue placing follow-on orders. Acquest-TM-, European and
reagent revenues were particularly strong during the fourth quarter. We
believe this demonstrates that LJL's products successfully meet our
customers'
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needs for ultra-high throughput and miniaturization," commented Lev J.
Leytes, Chairman and CEO of LJL. "We have experienced how mergers in the
pharma industry can create increased opportunities for LJL as the combination
of compounds and targets from one company with another's increases the
pressure for more screening."
"We are extremely proud of the significant progress LJL has made in 1999. We
not only succeeded in penetrating large pharmaceutical and biotechnology
companies with our mission-critical infrastructure tools for drug discovery,
but also created a new, exciting Genomics Group to extend our technology into
the rapidly expanding field of SNP (Single Nucleotide Polymorphisms)
discovery and scoring. Our systems are being utilized to genotype SNPs at
leading genomics centers and research labs," stated Leytes.
LJL management will be presenting at the Chase Hambrecht & Quist Healthcare
Conference in San Francisco, CA on Thursday, January 13, 2000 at 9:00am.
ABOUT LJL BIOSYSTEMS, INC.
LJL BioSystems supplies infrastructure tools to pharmaceutical and biotech
companies engaged in the highly competitive search for new medicines in the
genomics era. LJL's family of proprietary products, marketed as
CRITERION-TM-, consists of instruments, consumables, and services. The
Company intends to establish CRITERION as the gold standard for addressing
many of the key bottlenecks in drug discovery. LJL's worldwide customers
include, among others, AstraZeneca, Bristol Myers Squibb, Eli Lilly and
Company, Johnson and Johnson, Merck and Co., Tularik, Inc., Millennium
Pharmaceuticals, Inc., DuPont Pharmaceuticals Company, Amgen, Inc., Monsanto
Company, Pharmacia & Upjohn and SmithKline Beecham. LJL is headquartered in
Sunnyvale, California and has a subsidiary in the United Kingdom. Additional
information on LJL and CRITERION technology can be found at www.ljlbio.com
FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed
in this news release are forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act, including statements regarding
LJL's "expectations", "goals", "beliefs", "hopes", "designs", "intentions",
"strategies" or the like. Such statements are subject to risks and
uncertainties that could cause actual results to differ materially, including
such factors, among others, as the impact of competitive products and
pricing, the timely development and market acceptance of new products, the
ability to raise capital, concentration of HTS and Ultra-HTS markets, market
conditions, the mix between domestic and international sales, manufacturing
and cost of LJL's products, dependence on collaborative partners, the
enforcement of intellectual property rights, and uncertainties relating to
sole source suppliers, technological approaches, FDA and other regulatory
approvals. These and other risk factors are discussed in LJL's Report on Form
10-K, filed March 30, 1999, Reports on Form 10-Q filed May 14, 1999, August
16, 1999 and November 15, 1999 and Form S-3 dated July 22, 1999 (see, in
particular, Risk Factors and Management's Discussion and Analysis of
Financial Condition and Results of Operations). LJL disclaims any intent or
obligation to update these forward-looking statements. As a result of these
and other factors, LJL expects to experience significant fluctuations in
operating results,
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and there can be no assurance that LJL will become or remain consistently
profitable in the future.
For information on LJL BioSystems, Inc. via fax at no cost, dial 800-PRO-INFO
(+732-544-2850 outside the U.S.), ticker symbol: LJLB
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