Safeguard Scientifics Builds upon Momentum, Announces First Quarter Results

WAYNE, Pa.--(BUSINESS WIRE)--Safeguard Scientifics, Inc. (NYSE:SFE) today announced its financial results for the first quarter 2007. Safeguard reported consolidated revenue of $39.5 million for the first quarter, a 6% increase as compared to $37.3 million for the same period in 2006, adjusted for discontinued operations. Net loss for the first quarter was $11.7 million as compared to a net loss of $6.5 million for the first quarter of 2006. Life sciences companies, Clarient and Laureate Pharma, combined for an 80% revenue increase year over year, while revenue from technology companies, Alliance Consulting and Acsis, declined 13% in aggregate. Alliance experienced a slow down in technology spending. Acsis continues its transition to less hardware resale revenue and more software solutions revenue.