Represents 33% to 37% Increase Compared to 2011
WAYNE, Pa.--(BUSINESS WIRE)-- Safeguard Scientifics, Inc. (NYSE: SFE), a holding company that builds value in growth-stage life sciences and technology companies, today announced that it raised 2012 aggregate partner company revenue guidance to a range of $185 million to $190 million. This represents an increase of 33% to 37% as compared to $139.2 million in 2011, and an approximate increase of 15% as compared to initial 2012 revenue guidance of $160 million to $165 million.
Safeguard Scientifics increases 2012 aggregate partner company revenue guidance to a range of $185 million to $190 million, which represents an increase of 33% to 37% as compared to $139.2 million in 2011. (Photo: Business Wire)
“As a result of continued momentum at Safeguard’s partner companies, we’ve increased our guidance for aggregate partner company revenue for 2012,” said Peter J. Boni, President and CEO of Safeguard. “Our partner companies continue to achieve major milestones including customer wins, strategic partnerships, additions in senior management and regulatory advancements. These factors are all contributing to increased revenue. Steady growth and expansion at our partner companies, despite the fragile state of the macro-economy, continues to validate Safeguard’s strategic focus. Building value and realizing that value with a well-timed exit remains our path to continued financial strength and flexibility, as well as enhanced shareholder value.”
Safeguard will discuss this and other updates tomorrow at the company’s 6th Annual Investor Day event, which is being held at The Yale Club of New York City from 8:00am to 11:30am ET. For additional information, please visit www.safeguard.com/InvestorDay2012.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE: SFE) provides growth capital for entrepreneurial and innovative life sciences and technology companies. Safeguard targets life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices, Regenerative Medicine, Specialty Pharmaceuticals and selected healthcare services, and technology companies in Internet / New Media, Financial Services IT, Healthcare IT and selected business services with capital requirements of up to $25 million. Safeguard participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. For more information, please visit our website at www.safeguard.com or our blog (blog.safeguard.com).
Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are subject to risks and uncertainties. The risks and uncertainties that could cause actual results to differ materially include, among others, managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, the ability to execute our strategy, the uncertainty of the future performance of our companies, acquisitions and dispositions of companies, the inability to manage growth, compliance with government regulations and legal liabilities, additional financing requirements, the effect of economic conditions in the business sectors in which our companies operate, and other uncertainties described in the Company's filings with the Securities and Exchange Commission. Many of these factors are beyond our ability to predict or control. As a result of these and other factors, our past financial performance should not be relied on as an indication of future performance. The Company does not assume any obligation to update any forward-looking statements or other information contained in this news release.
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Safeguard Scientifics, Inc.
John E. Shave III, 610-975-4952
Vice President, Business Development and Corporate Communications
Source: Safeguard Scientifics, Inc.