CALP » Topics » 3. Inventories

This excerpt taken from the CALP 10-Q filed May 8, 2009.

3. Inventories

 

Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or “FIFO”) or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 

 

 

March 31, 2009

 

December 31,

 2008

 

Raw material

 

$

 10,092

 

$

 10,173

 

Work-in-process

 

928

 

907

 

Finished goods

 

6,303

 

6,499

 

Inventories

 

$

 17,323

 

$

 17,579

 

 

These excerpts taken from the CALP 10-K filed Mar 13, 2009.

Inventories

        Inventories for use in the manufacture of Caliper's instruments include electronic and optical components, devices and accessories either produced or purchased from original equipment manufacturers. Inventories for use in the manufacture of LabChip technologies consist primarily of glass, quartz and reagents. Inventories are stated at the lower of cost or market, reflect appropriate reserves for potential obsolete, slow moving or otherwise impaired material, and include appropriate elements of material, labor and overhead.

Inventories



        Inventories for use in the manufacture of Caliper's instruments include electronic and optical components, devices and accessories
either produced or purchased from original equipment manufacturers. Inventories for use in the manufacture of LabChip technologies consist primarily of glass, quartz and reagents. Inventories are
stated at the lower of cost or market, reflect appropriate reserves for potential obsolete, slow moving or otherwise impaired material, and include appropriate elements of material, labor and
overhead.



5. Inventories

        Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or "FIFO") or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 
  December 31,  
 
  2008   2007  

Raw material

  $ 10,173   $ 11,228  

Work-in-process

    907     561  

Finished goods

    6,499     7,783  
           

Inventories

  $ 17,579   $ 19,572  
           

        Caliper reserves or writes off the cost of inventory which it specifically identifies and considers to be obsolete or excess. Caliper defines obsolete inventory as inventory that will no longer be used in the manufacturing process. Excess inventory is generally defined as inventory in excess of projected usage,

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Table of Contents


CALIPER LIFE SCIENCES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

5. Inventories (Continued)


and is determined using management's best estimate of future demand at the time, based upon information then available to Caliper. Caliper uses a twelve-month demand forecast and, in addition to the demand forecast, Caliper also considers: (1) parts and subassemblies that can be used in alternative finished products, (2) parts and subassemblies that are unlikely to be impacted by engineering changes, and (3) known design changes which would reduce Caliper's ability to use the inventory as planned. During 2008, 2007 and 2006, respectively, Caliper recorded charges of $1.7 million, $1.3 million and $0.2 million, respectively, to cost of product revenues for excess and obsolete inventories.

5. Inventories




        Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or "FIFO") or market. Amounts are relieved from inventory and recognized
as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):






















































































 
 December 31,  
 
 2008  2007  

Raw material

 $10,173 $11,228 

Work-in-process

  907  561 

Finished goods

  6,499  7,783 
      

Inventories

 $17,579 $19,572 
      




        Caliper
reserves or writes off the cost of inventory which it specifically identifies and considers to be obsolete or excess. Caliper defines obsolete inventory as inventory that will no
longer be used in the manufacturing process. Excess inventory is generally defined as inventory in excess of projected usage,



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HREF="#bg11201a_main_toc">Table of Contents





CALIPER LIFE SCIENCES, INC.



NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)



5. Inventories (Continued)






and
is determined using management's best estimate of future demand at the time, based upon information then available to Caliper. Caliper uses a twelve-month demand forecast and, in addition to the
demand forecast, Caliper also considers: (1) parts and subassemblies that can be used in alternative finished products, (2) parts and subassemblies that are unlikely to be impacted by
engineering changes, and (3) known design changes which would reduce Caliper's ability to use the inventory as planned. During 2008, 2007 and 2006, respectively, Caliper recorded charges of
$1.7 million, $1.3 million and $0.2 million, respectively, to cost of product revenues for excess and obsolete inventories.



This excerpt taken from the CALP 10-Q filed Nov 10, 2008.

2. Inventories

 

Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or “FIFO”) or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 

 

 

September 30,
2008

 

December 31,
2007

 

Raw material

 

$

11,849

 

$

11,228

 

Work-in-process

 

940

 

561

 

Finished goods

 

8,602

 

7,783

 

 

 

$

21,391

 

$

19,572

 

 

This excerpt taken from the CALP 10-Q filed Aug 8, 2008.

2. Inventories

 

Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or “FIFO”) or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 

 

 

June 30,
2008

 

December 31,
2007

 

Raw material

 

$

12,424

 

$

11,228

 

Work-in-process

 

825

 

561

 

Finished goods

 

8,411

 

7,783

 

 

 

$

21,660

 

$

19,572

 

 

This excerpt taken from the CALP 10-Q filed May 9, 2008.

2. Inventories

 

Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or “FIFO”) or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 

 

 

March 31,
2008

 

December 31,
2007

 

Raw material

 

$

13,079

 

$

11,228

 

Work-in-process

 

1,274

 

561

 

Finished goods

 

8,990

 

7,783

 

 

 

$

23,343

 

$

19,572

 

 

These excerpts taken from the CALP 10-K filed Mar 14, 2008.

4. Inventories

        Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or "FIFO") or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 
  December 31,
 
  2007
  2006
Raw material   $ 11,228   $ 9,998
Work-in-process     561     1,380
Finished goods     7,783     7,380
   
 
Inventories   $ 19,572   $ 18,758
   
 

        Caliper reserves or writes off the cost of inventory which it specifically identifies and considers to be obsolete or excess. Caliper defines obsolete inventory as inventory that will no longer be used in the manufacturing process. Excess inventory is generally defined as inventory in excess of projected usage, and is determined using management's best estimate of future demand at the time, based upon information then available to Caliper. Caliper uses a twelve-month demand forecast and, in addition to the demand forecast, Caliper also considers: (1) parts and subassemblies that can be used in alternative finished products, (2) parts and subassemblies that are unlikely to be impacted by engineering changes, and (3) known design changes which would reduce Caliper's ability to use the inventory as planned. During 2007, 2006 and 2005, respectively, Caliper recorded charges of $1.3 million, $238,000 and $23,000, respectively, to cost of product revenues for excess and obsolete inventories.

4. Inventories



        Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or "FIFO") or market. Amounts are relieved from
inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):



































































 
 December 31,
 
 2007
 2006
Raw material $11,228 $9,998
Work-in-process  561  1,380
Finished goods  7,783  7,380
  
 
Inventories $19,572 $18,758
  
 




        Caliper
reserves or writes off the cost of inventory which it specifically identifies and considers to be obsolete or excess. Caliper defines obsolete inventory as inventory that will no
longer be used in the manufacturing process. Excess inventory is generally defined as inventory in excess of projected usage, and is determined using management's best estimate of future demand at the
time, based upon information then available to Caliper. Caliper uses a twelve-month demand forecast and, in addition to the demand forecast, Caliper also considers: (1) parts and subassemblies
that can be used in alternative finished products, (2) parts and subassemblies that are unlikely to be impacted by engineering changes, and (3) known design changes which would reduce
Caliper's ability to use the inventory as planned. During 2007, 2006 and 2005, respectively, Caliper recorded charges of $1.3 million, $238,000 and $23,000, respectively, to cost of product
revenues for excess and obsolete inventories.



This excerpt taken from the CALP 10-Q filed Nov 9, 2007.

3. Inventories

        Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or "FIFO") or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 
  September 30,
2007

  December 31,
2006

Raw material   $ 12,078   $ 9,998
Work-in-process     1,403     1,380
Finished goods     8,335     7,380
   
 
    $ 21,816   $ 18,758
   
 

6


This excerpt taken from the CALP 10-Q filed Aug 9, 2007.

4. Inventories

Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or “FIFO”) or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 

 

June 30,

 

December 31,

 

 

 

2007

 

2006

 

Raw material

 

$

11,650

 

$

9,998

 

Work-in-process

 

678

 

1,380

 

Finished goods

 

8,991

 

7,380

 

 

 

$

21,319

 

$

18,758

 

 

7




This excerpt taken from the CALP 10-Q filed May 10, 2007.

4. Inventories

 Inventories are stated at the lower of cost (determined on a first-in, first-out basis, or “FIFO”) or market. Amounts are relieved from inventory and recognized as a component of cost of sales on a FIFO basis. Inventories consist of the following (in thousands):

 

 

March 31,

 

December 31,

 

 

 

2007

 

2006

 

Raw material

 

$

12,952

 

$

9,998

 

Work-in-process

 

1,227

 

1,380

 

Finished goods

 

7,644

 

7,380

 

 

 

$

21,823

 

$

18,758

 

 

This excerpt taken from the CALP 10-K filed Mar 14, 2007.

Inventories

Inventories for use in the manufacture of Caliper’s instruments include electronic and optical components, devices and accessories either produced or purchased from original equipment manufacturers. Inventories for use in the manufacture of LabChip technologies consist primarily of glass, quartz and reagents. Inventories are stated at the lower of cost or market, reflect appropriate reserves for potential obsolete, slow moving or otherwise impaired material, and include appropriate elements of material, labor and overhead.

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