Molecular Devices Reports Record Revenues and Earnings for Second Quarter of 2005

Molecular Devices Reports Record Revenues and Earnings for Second
Quarter of 2005 


SUNNYVALE, Calif., July 26  /PRNewswire-FirstCall/ -- Molecular Devices
Corporation (NASDAQ:MDCC) today announced record revenues and earnings for the
quarter ended June 30, 2005.

Revenues for the quarter were a record $44.5 million, or an increase of 38%
compared to the same period last year.  Operating income for the second quarter
of 2005 was $6.0 million, or an increase of 59% compared to the same period last
year.  Fully diluted earnings per share for the second quarter of 2005 were
$0.22, or an increase of 29% compared with the same period last year.

"We are encouraged by our second quarter results, as we saw organic growth in
both our life sciences and drug discovery product families," stated Joseph D.
Keegan, Ph.D., Molecular Devices' President and Chief Executive Officer. "In
life sciences, we continued to see strong demand for our SpectraMax(R) M5
bench-top reader.  In drug discovery, we saw excellent growth in both our
high-content cellular imaging and our high-throughput electrophysiology product
lines.  Finally, we continue to believe that our life sciences and drug
discovery markets will remain stable in the near-term."

The Company also established guidance for the third quarter of 2005 and updated
its guidance for the full year 2005.  For the third quarter of 2005, the Company
anticipates revenues of $44 to $46 million and fully diluted GAAP earnings per
share of $0.22 to $0.24.  For the full year 2005, the Company anticipates
revenues of $181 to $185 million and fully diluted earnings per share of $0.92
to $0.96.

Conference Call Information

An earnings announcement conference call is scheduled for Wednesday, July 27,
2005 at 8:00 a.m. PDT (11:00 a.m. EDT).  Interested parties can participate in
the call by dialing 877-704-5385 (domestic) or 913-312-1303 (international). 
Replay dial-in numbers are 888-203-1112 (domestic) and 719-457-0820
(international), and the access code for the replay is 8417181.

Investors can also access a live web-cast of the call through a link posted on
the investor page on Molecular Devices' website
(http://www.moleculardevices.com/).  A replay of the web-cast will be available
at this location from July 27, 2005 to such time as the company reports its
financial results for the third quarter of 2005.

About Molecular Devices Corporation

Molecular Devices Corporation is a leading supplier of high-performance
bioanalytical measurement systems that accelerate and improve drug discovery
and other life sciences research.  The Company's systems and consumables enable
pharmaceutical and biotechnology companies to leverage advances in genomics,
proteomics and parallel chemistry to facilitate the high-throughput and
cost-effective identification and evaluation of drug candidates.  The Company's
solutions are based on its advanced core technologies that integrate its
expertise in engineering, molecular and cell biology and chemistry. Molecular
Devices enables its customers to improve research productivity and
effectiveness, which ultimately accelerates the complex process of discovering
and developing new drugs.

This press release contains "forward-looking" statements, including statements
related to future revenues and earnings. Any statements contained in this press
release that are not statements of historical fact may be deemed to be
forward-looking statements. Words such as "believes," "anticipates," "plans,"
"expects," "will," and similar expressions are intended to identify
forward-looking statements. There are a number of important factors that could
cause the results of Molecular Devices Corporation to differ materially from
those indicated by these forward-looking statements, including, among others,
risks related to variations in the amount of time that it takes for the Company
to sell its products and collect accounts receivable, the timing of customer
orders and the Company's dependence on orders that are shipped in the same
quarter, which gives the Company limited visibility of future product
shipments, risks related to increased competition, risks associated with the
Company's need to develop new and enhanced products and other risks detailed
from time to time in the Company's SEC reports, including its Quarterly Report
on Form 10-Q for the quarter ended March 31, 2005.  Molecular Devices
Corporation does not undertake any obligation to update forward-looking
statements.

                      MOLECULAR DEVICES CORPORATION
               CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                 (in thousands, except per share amounts)

                                   Three Months Ended   Six Months Ended
                                        June 30,             June 30,
                                    2005       2004       2005       2004
                                       (unaudited)          (unaudited)

  REVENUES                         $44,537    $32,205    $83,602    $59,542

  COST OF REVENUES                  17,600     12,075     32,647     22,318

  GROSS PROFIT                      26,937     20,130     50,955     37,224

  OPERATING EXPENSES:
    Research and development         6,309      4,709     12,535      8,726
    Selling, general and
     administrative                 14,593     11,616     28,907     22,536

      Total operating expenses      20,902     16,325     41,442     31,262

  INCOME FROM OPERATIONS             6,035      3,805      9,513      5,962
  Interest and other income
   (expense), net                      (62)        49        (26)        85

  INCOME BEFORE TAXES                5,973      3,854      9,487      6,047
  Income tax provision              (2,270)    (1,349)    (3,605)    (2,113)

  NET INCOME                        $3,703     $2,505     $5,882     $3,934

  BASIC NET INCOME PER SHARE         $0.22      $0.18      $0.35      $0.27

  DILUTED NET INCOME PER SHARE       $0.22      $0.17      $0.34      $0.27

  SHARES USED IN COMPUTING BASIC
   NET INCOME PER SHARE             16,872     14,246     16,989     14,414

  SHARES USED IN COMPUTING DILUTED
   NET INCOME PER SHARE             17,135     14,394     17,261     14,588


                      MOLECULAR DEVICES CORPORATION
                  CONDENSED CONSOLIDATED BALANCE SHEETS
                              (in thousands)

                                                  June 30,      December 31,
                                                    2005           2004
  ASSETS                                                (unaudited)
    Current assets:
      Cash and cash equivalents                    $12,465        $30,175
      Accounts receivable, net                      35,061         36,995
      Inventories, net                              24,837         25,785
      Deferred tax assets                            8,438          9,654
      Prepaids and other current assets              2,736          2,780
        Total current assets                        83,537        105,389

    Equipment and leasehold improvements, net       10,790         11,762
    Other assets                                   148,000        138,078
                                                  $242,327       $255,229

  LIABILITIES AND STOCKHOLDERS' EQUITY
    Current liabilities:
      Accounts payable                              $6,924         $7,085
      Accrued liabilities                           23,775         30,748
        Total current liabilities                   30,699         37,833

    Long-term liabilities:
      Other long-term liabilities                    1,128          1,452
      Deferred tax liabilities                       5,251          5,324
        Total long-term liabilities                  6,379          6,776

  Stockholders' equity                             205,249        210,620

                                                  $242,327       $255,229


DATASOURCE: Molecular Devices Corporation



CONTACT:  Tim Harkness of Molecular Devices Corporation, [phone]



Web site:  http://www.moleculardevices.com/ 

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