MDCC Molecular Devices (MM)

SUNNYVALE, Calif., Sept. 27 /PRNewswire-FirstCall/ -- Molecular Devices Corporation (NASDAQ:MDCC) today updated guidance for the third quarter of 2006. As a result of softer than expected demand from pharmaceutical companies for its Drug Discovery and Life Sciences products generally, the Company is reducing its financial guidance for the third quarter. For the third quarter of 2006, the Company now anticipates revenues of $44 to $46 million, GAAP fully diluted earnings per share of $0.12 to $0.17 and non-GAAP fully diluted earnings per share of $0.17 to $0.22, excluding $0.05 per share of non-cash stock compensation expense related to SFAS 123R. The Company plans to update full year 2006 guidance in its third quarter earnings release and during its conference call to discuss third quarter operating results and other business matters currently scheduled for Thursday, October 26, 2006. 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. Forward Looking Statements This press release contains "forward-looking" statements, including statements related to the Company's 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 otherrisks detailed from time to time in the Company's SEC reports, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2006. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements. Non-GAAP Financial Measure This press release includes a financial measure for fully diluted earnings per share that excludes the impact of SFAS 123R and therefore has not been calculated in accordance with GAAP. This non-GAAP financial measure is included in this press release because the Company's management uses this information for internal planning and forecasting purposes as well as to monitor and evaluate on-going operating results and trends excluding the impact of SFAS 123R. The Company believes that this non-GAAP financial measure is also useful for investors because excluding the impact of SFAS 123R facilitates comparisons to the Company's historical operating results. In addition, excluding the impact of SFAS 123R from the Company's financial guidance provides meaningful supplementary information to both management and investors that is indicative of the Company's core operating results and enhances an overall understanding of the Company's prospects for the future. Finally, the Company has historically reported similar non-GAAP financial measures to its investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting. DATASOURCE: Molecular Devices Corporation CONTACT: Tim Harkness of Molecular Devices Corporation, +1-408-747-3533 Web site: http://www.moleculardevices.com/

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