Safeguard Scientifics’ Aggregate Partner Company Revenue Up 47 Percent; Increases 2010 Guidance to be Between $325 Million and $350 Million
Posted by | July 29, 2010
This morning, we announced that aggregate partner company revenue for the three months ended June 30, 2010 was $91.6 million, up 47 percent from $62.3 million for the same partner companies in the same period of 2009.
For the six months ended June 30, 2010, the aggregate partner company revenue was $176.9 million, up 45 percent from $121.8 million for the same partner companies for the same period of 2009. (Note: Revenue for Safeguard’s equity method and cost method partner companies is reported on a one-quarter lag.)
As a result of this growth, Safeguard has increased its 2010 aggregate partner company revenue guidance to a range of $325 million to $350 million, up from a range of $300 million to $325 million.
Peter J. Boni, Safeguard Scientifics’ President and CEO, highlighted that there is continued growth and maturation at Safeguard’s life sciences and technology partner companies. In addition, over the course of the next year, we anticipate several potential exit opportunities involving some of our more mature partner companies.
More news can be found in our full quarterly results press release. You can also listen to our LIVE conference call and webcast at 9 a.m. EDT this morning.
If you have any questions, please feel free to contact me. Thanks, and have a great day.
