Safeguard Scientifics, Inc. (NYSE: SFE), a holding company that builds value in growth-stage life sciences and technology companies, today announced that aggregate revenue of its partner companies for 2010 exceeded $400 million, beating previously issued guidance of $360 million to $385 million.
"We are pleased to report that our partner companies, in the aggregate, exceeded previously issued guidance, achieving more than $400 million in revenues for 2010," said Peter J. Boni, Safeguard President and Chief Executive Officer. "Since we first started publishing this metric in 2007, partner company aggregate revenue has increased every year for the same partner companies — $100 million in 2007; $179 million in 2008; $262 million in 2009; and now more than $400 million in 2010. Now, those are three tough years to get that kind of growth. We continue to remain disciplined in executing our game plan to build value in our partner companies and for our shareholders."
Figures above include estimated full-year 2010 revenues for Clarient, Inc. As a reminder, Safeguard reports the revenue of its equity method and cost method partner companies on a one-quarter lag basis.
Safeguard will release its financial results for the fourth quarter and year-ended December 31, 2010 prior to market open on Thursday, March 3, 2011.
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