guess a bid from spurned party (Company B I think from proxy discussion) is possible - break-up fee not big - hedged my bets and sold some shares from $1.50-$1.80 but still own most of my position - nothing is easy with APNO!!!

Now 1.75. Wish I had held that last position another day. Ask at 1.95. Filing just out, don't see anything in it to cause the move up. http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6514712

Now 1.53 / 1.69 with last at 1.60. Still less than 10% of os has traded since buyout offer of 1.50. Looking more and more like a new offer coming. I may just buy a small position back. Jim

Did sell the last of mine today at 1.55. Still think there could be a higher bid, but I just wanted to move on after all these years. Like you I made a decent profit and what a relief it is. This was my biggest position and now I feel almost like a newly free man. The thought of this going to zero or a insider buyout at a small pps, scared the hell out of me. So far 2009 has been my best year since 2003. More than made up my huge losses from 2008. Just can never tell with this market. Jim

It only took 6 years!

Congrats guys. I sold all of mine at 1.50. I'm surprised to see it trading above $1.50, but I don't think they'll get another offer.

I'm glad to finally be out of this thing! I even made some money!

I may have been right about a possible higher offer coming. Last couple days we have had trades above the buyout offer of 1.50. Glad I keep some for just a possibility. Still only about 5% of os has been traded since the buyout offer Tuesday. Jim

Well did sell 75% of my holdings. Interesting to see only 5% of the os traded so far. Makes me think most insiders are holding for more. Time will tell. Bottom line is this a a great day for us long time holders. Jim

guess anything is possible but pretty unlikely someone emerges from the weeds to top bid by enuf - but since deal expected to close w/i 60 days it may just come down to an opportunity cost if a good buy idea comes along...

Thinking of not selling all just in case another buyer comes in with a higher offer. Think I am crazy?

Me too. I am heading to Vegas. LOL.

Cell Biosciences Signs Agreement to Acquire Alpha Innotech
8:30 am ET 09/08/2009- Business Wire
SANTA CLARA, Calif.--(BUSINESS WIRE)--

Cell Biosciences, Inc. and Alpha Innotech Corp. (OTC BB: APNO.OB) today

announced that they have entered into a definitive agreement providing

for the acquisition of Alpha Innotech by Cell Biosciences for $1.50 per

share, or approximately $17.9 million in cash. This acquisition would

significantly expand Cell Biosciences' protein analysis business to

include a global infrastructure and a broad protein analysis product

portfolio.





Founded in 1992, Alpha Innotech is a pioneer in the use of

high-sensitivity digital imaging systems for genomic and proteomic

research. The company offers a broad range of best-in-class products,

from entry-level gel documentation systems to premier systems for

multiplexed fluorescence and proteomics applications. The company has

sold over 10,000 systems worldwide. In 2008, Alpha Innotech achieved

revenues of $17.6 million and was profitable on both an operating and a

net income basis. Alpha Innotech employs 62 people, primarily at its San

Leandro, California headquarters.





Cell Biosciences is a private life sciences company established in 2004,

and is focused on revolutionizing protein and biomarker research. The

company's lead product is the CB1000, a nanofluidic immunoassay platform

designed for ultrasensitive detection and characterization of

oncoproteins and other signaling proteins in ultra small biological

samples, such as small tumor biopsies and stem cells. Cell Biosciences

is headquartered in Santa Clara, California, and has 49 employees

located in North America and Europe.





The combination of Cell Biosciences and Alpha Innotech would create a

global protein analysis business with a broad product line featuring

both traditional and novel protein analysis technologies. Virtually

every protein research laboratory worldwide would become a potential

customer for the combined entity.





Commenting on the transaction, Tim Harkness, President and Chief

Executive Officer of Cell Biosciences, said, "This strategic acquisition

marks an important milestone in our plan to create a profitable,

high-growth protein analysis business with global reach. There is a

great strategic fit in people, products, technologies, and customers

between Cell Biosciences and Alpha Innotech. I am particularly excited

by the critical mass of talent and industry experience this combination

creates."



Ron Bissinger, Chief Executive Officer at Alpha Innotech, added, "The

innovative technology of Cell Biosciences makes it an ideal partner for

Alpha Innotech. I expect the combined company to create great value for

our customers and employees, and to generate exceptional products for

the protein research community."





Under the terms of the agreement, Cell Biosciences will acquire Alpha

Innotech for approximately $17.9 million, or $1.50 per share, and will

assume $2.1 million of outstanding debt, net of cash. The completion of

the transaction is subject to customary terms and conditions, including

approval by the stockholders of Alpha Innotech. The directors, executive

officers and certain stockholders of Alpha Innotech, who collectively

hold approximately 33% of Alpha Innotech's outstanding common stock,

have entered into agreements with Cell Biosciences pursuant to which

they have agreed to vote their shares of Alpha Innotech common stock in

favor of the transaction. The parties expect the transaction to be

completed in approximately 60 days.





In connection with the transaction, Cell Biosciences has entered into

agreements to raise an additional $19 million in cash in a second

closing of a Series C Preferred Stock financing and a Series D Preferred

Stock financing led by its largest investor, The Wellcome Trust.

Existing investors Domain Associates, Novo A/S, Latterell Venture

Partners, The Vertical Group and Royal Bank of Canada have agreed to

participate in the financing.



BroadOak Partners served as financial advisor to Alpha Innotech in

connection with the transaction.





ABOUT CELL BIOSCIENCES





Cell Biosciences is a private life sciences company focused on

nanoproteomics. The Company develops instrumentation systems, software,

and assay products that reveal previously undetectable information about

cellular control pathways. Its customers include leading institutions in

the fields of cancer research, stem cell biology, and diabetes. Cell

Biosciences' products enable researchers to uncover fundamental

mechanisms controlling cell proliferation and cell death, to accelerate

the development of new therapeutics, and to help identify new prognostic

and diagnostic disease biomarkers. Cell Biosciences is located in Santa

Clara, California. For more information, visit www.cellbiosciences.com.





ABOUT ALPHA INNOTECH CORP.



With over 10,000 systems sold worldwide, Alpha Innotech is a leading

developer, manufacturer, and marketer of digital imaging and analysis

systems for the life science research and drug discovery markets. Its

goal is to combine instruments, reagents and bioinformatics software in

order to offer integrated modular technology platforms for functional

genomics, proteomics, and cell analysis markets. Customers of Alpha

Innotech include pharmaceutical and biotechnology companies, as well as

universities, medical centers, government research institutes, and

agencies worldwide. Visit www.alphainnotech.com

for more information.





FORWARD-LOOKING STATEMENTS





Some statements set forth in this release, including those regarding

Cell Biosciences' proposed acquisition of Alpha Innotech and the

expected impact of the acquisition on Cell Biosciences' strategic and

operational plans and financial results, contain forward-looking

statements that are subject to change. Statements including words such

as "anticipate", "believe", "estimate" or "expect" and statements in the

future tense are forward-looking statements. These forward-looking

statements are subject to risks and uncertainties that could cause

actual events or actual future results to differ materially from the

expectations set forth in the forward-looking statements. Some of the

factors which could cause results to differ materially from the

expectations expressed in these forward-looking statements include the

following: the requirement that Alpha Innotech's stockholders must

approve the transaction; the completion of Cell Biosciences' Series D

Preferred Stock financing; the possibility that the transaction will not

close or that the closing may be delayed; the effect of the announcement

of the acquisition on Alpha Innotech's strategic relationships,

operating results and business generally, including the ability to

retain key employees and other factors described in Alpha Innotech'sSEC

filings (including Alpha Innotech's Annual Report on Form 10-K for the

year ended December 31, 2008 and Quarterly Report on Form 10-Q for the

quarter ended June 30, 2009). If any of these risks or uncertainties

materializes, the acquisition may not be consummated, the potential

benefits of the acquisition may not be realized, Alpha Innotech's

operating results and financial performance could suffer, and actual

results could differ materially from the expectations described in these

forward-looking statements. Neither Cell Biosciences nor Alpha Innotech

assume any obligation to update these forward-looking statements.





ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTION AND WHERE YOU

CAN FIND IT





In connection with the proposed transaction, Alpha Innotech intends to

file a proxy statement and other relevant materials with the Securities

and Exchange Commission ("SEC"). BEFORE MAKING ANY VOTING DECISION WITH

RESPECT TO THE PROPOSED TRANSACTION, STOCKHOLDERS OF ALPHA INNOTECH ARE

URGED TO READ THE PROXY STATEMENT, WHEN IT BECOMES AVAILABLE, AND THE

OTHER RELEVANT MATERIALS FILED BY ALPHA INNOTECH WITH THE SEC BECAUSE

THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

The proxy statement and the other relevant materials, when available,

and any other documents filed by Alpha Innotech with the SEC, may be

obtained free of charge at the SEC's website at www.sec.gov.

In addition, stockholders of Alpha Innotech may obtain free copies of

the documents filed with the SEC by contacting Alpha Innotech Investor

Relations at (510) 483-9620 or Alpha Innotech Corp., 2401 Merced Street,

San Leandro, California 94577. You may also read and copy any reports,

statements and other information filed by Alpha Innotech with the SEC at

the SEC public reference room at 100 F Street, N.E.Room 1580,

Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 or visit

the SEC's website for further information on its public reference room.



Alpha Innotech and its executive officers and directors may be deemed to

be participants in the solicitation of proxies from Alpha Innotech

stockholders in favor of the proposed transaction. Certain executive

officers and directors of Alpha Innotech have interests in the

transaction that may differ from the interests of stockholders

generally, including without limitation acceleration of vesting of stock

options and restricted stock units, benefits conferred under retention,

severance and change in control arrangements, and continuation of

director and officer insurance and indemnification. These interests will

be described in the proxy statement when it becomes available.









Source: Alpha Innotech Corp.

$1.50 - I'll take it...

One hopefull sign so far is that no one is selling. Jim

Yeah, I read that too, and I thought the same thing...interesting.

I came away confused after reading it. At first, it sounded good and then it just sounded like management was lining their pockets some more. I don't know...we'll see.

Interesting 8k just released.

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6465587

My initial take is that this could be bad or good. It surely leads one to believe the company is for sale and the executives are protecting themselves once the sale becomes final. Will the sale end up benefitting shareholders is the 'big' question. Time will tell. Jim

Alpha Innotech Reports Second Quarter 2009 Results
Press Release
Source: Alpha Innotech Corp.
On Wednesday August 5, 2009, 8:54 pm EDT

SAN LEANDRO, Calif.--(BUSINESS WIRE)--Alpha Innotech Corp. (OTCBB:APNO - News), a leading provider of bioanalytical systems for drug discovery and life science research, today reported financial results for their second quarter ending June 30, 2009.

Second quarter revenues of $4.2 million were flat from the $4.2 million of revenues reported in the same period in 2008.

The Company posted a net loss of $15,785 in the second quarter ending June 30, 2009 as compared to a $23,199 net profit in the comparable period of 2008.

Excluding interest, depreciation and share-based compensation, on a non-GAAP basis, the Company had net income of $429,056 for the three months ended June 30, 2009 compared to $456,448 for the three months ended June 30, 2008. The non-GAAP net income is reconciled to comparable GAAP net income in the table below entitled “Non-GAAP Calculation of Net Income.”

For the six months ended June 30, 2009, revenues remained at $7.9 million compared to the $7.9 million for the six months ended June 30, 2008. The Company reported net loss for the six months ended June 30, 2009 of $234,748, or $0.02 per share, compared to net income of $21,142, or less than $0.01 per share, for the six months ended June 30, 2008.

Excluding interest, depreciation and share-based compensation, on a non-GAAP basis, the Company had net income of $671,010 for the six months ended June 30, 2009 compared to a net income of $794,758 for the six months ended June 30, 2008. The non-GAAP net income is reconciled to comparable GAAP net income in the table entitled “Non-GAAP Calculation of Net Income.”

On July 14, 2009, we received a letter from General Electric Healthcare (GEHC) terminating our supply agreement with them effective May 2010. During the remainder of the term of the agreement we will continue shipping systems to GEHC as customer demand requires. While we may continue to supply GEHC with systems as well as support for their installed base, we assume future revenues will be minimal from GEHC beginning in our third quarter of 2009. During the six months ended June 30, 2009, revenue from GEHC was $705,000 compared to $1.4 million for the six months ended June 30, 2008.

“Excluding the GEHC business, our second quarter 2009 revenues grew 17% compared to the second quarter of 2008. The growth, during the second quarter of 2009, in our non-GEHC revenues was greater than the nearly $600,000 decline in GEHC revenues for the three months ended June 30, 2009 compared to the three months ended June 30, 2008,” stated Ron Bissinger, Chief Executive Officer of Alpha Innotech Corp. “As a percentage of our total revenues, we have been reducing our dependency on GEHC business since 2007. We expect continuing growth from our own global channel expansions and introduction of new products,” he continued.

Recent Product Highlights

-- We launched FluorChem® Xplor, a complete solution for the imaging and analysis of 2D gels, chemiluminescent Westerns, and 1D protein and nucleotide gels.

-- We launched our latest software product, AlphaView 3.0 software, which offers automation, improved lab workflow, and increased throughput for imaging customers.

More information on Alpha Innotech can be found at the Company’s website www.alphainnotech.com.

About Alpha Innotech Corp.

With over 10,000 systems sold worldwide, Alpha Innotech is a leading developer, manufacturer and marketer of digital imaging and analysis systems for the life science research and drug discovery markets. Our goal is to combine instruments, reagents and bioinformatics software in order to offer integrated modular technology platforms for functional genomics, proteomics, and cell analysis markets. Our customers include pharmaceutical and biotechnology companies, as well as universities, medical centers, government research institutes, and agencies worldwide.

Use of Non-GAAP Financial Measures

To supplement the Company’s financial statements presented in accordance with GAAP, the Company is also providing non-GAAP financial information. The presentation of non-GAAP financial information should be considered in addition to the Company’s GAAP results and is not intended to be considered in isolation or as a substitute for financial information prepared and presented in accordance with GAAP. The Company believes that both management and investors benefit from referring to non-GAAP financial information, since GAAP excludes certain expenses in their assessment of the Company’s performance. The Company also believes that investors benefit from an increased transparency of the supplemental information which management uses in its financial and operational decision making.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements related to the continued expansion of our international sales channel, our continued development, manufacture and supply of new products, our relationship with GEHC, and is subject to the safe harbor created by those sections. Words such as “will,” “expect,” “believe,” “suggest,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the Company’s current expectations. These forward-looking statements involve a number of risks and uncertainties that include, but are not limited to, the loss of revenues from the cancellation of the Company’s agreement with GEHC, worldwide economic conditions and our ability to grow our non-GEHC revenue, any of which could cause actual results to differ materially from those anticipated or planned by these forward-looking statements. Please also refer to the risk factors described under “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed with the Securities and Exchange Commission. We expressly disclaim any obligation or undertaking to update the forward-looking statements contained in this news release except as required by law.

Alpha Innotech Corp.

Condensed Consolidated Statements of Operations

(Unaudited)

(in thousands, except per share amounts)


Three Months Ended
June 30,
Six Months Ended
June 30,

2009 2008 2009 2008
Revenue $ 4,248 $ 4,243 $ 7,939 $ 7,911
Cost of Goods Sold 1,889 1,857 3,577 3,414
Gross profit 2,359 2,386 4,362 4,497
Operating expenses:
Sales and Marketing 1,232 1,313 2,417 2,498
Research and Development 353 273 666 648
General and Administrative 603 590 1,149 1,157
Total operating expenses 2,188 2,176 4,232 4,303
Income from operations 171 210 130 194
Other income (expense):
Interest expense (186 ) (188 ) (356 ) (271 )
Other income (expense), net (1 ) 1 (9 ) (2 )
Sale of patents — — — 100
Net income (loss) applicable to common stockholders $ (16 ) $ 23 $ (235 ) $ 21
Net income (loss) per share:
Basic $ (0.00 ) $ 0.00 $ (0.02 ) $ 0.00
Diluted $ (0.00 ) $ 0.00 $ (0.02 ) $ 0.00
Weighted average shares outstanding:
Basic 10,940 10,874 10,932 10,694
Diluted 10,940 11,281 10,932 10,893

Alpha Innotech Corp.

Condensed Consolidated Balance Sheets

As of June 30, 2009 and December 31, 2008

(in thousands)


June 30,
2009
December 31,
2008

Assets

Current assets:
Cash and cash equivalents $ 266 $ 649
Restricted cash 50 50
Accounts receivable, net 2,569 3,033
Inventory, net 2,275 1,464
Prepaid expenses and other current assets 93 155
Total current assets 5,253 5,351
Property and equipment, net 715 790
Loan costs, net 48 120
Other assets 110 90
Total assets $ 6,126 $ 6,351
Liabilities and shareholders’ deficit

Current liabilities:
Accounts payable $ 1,635 $ 880
Accrued liabilities 850 1,110
Current portion of debt 2,234 2,936
Deferred revenue 1,114 1,217
Other liabilities 121 152
Total current liabilities 5,954 6,295
Debt, net of current portion 157 152
Total shareholders’ equity (deficit) 15 (96 )
Total liabilities and shareholders’ deficit $ 6,126 $ 6,351

Alpha Innotech Corp.

Non-GAAP Calculation of Net Income

(Unaudited)

(in thousands)


Three Months Ended
June 30,
Six Months Ended
June 30,

2009 2008 2009 2008
GAAP net income (loss) $ (16 ) $ 23 $ (235 ) $ 21
Interest 186 188 356 271
Depreciation 133 108 276 245
Share-based compensation 126 137 274 257
Non-GAAP basis income $ 429 $ 456 $ 671 $ 794



Contact:
Alpha Innotech Corp.Michael P. Henighan, CFO, 510-483-5610Copyright © 2009 Business Wire. All rights reserved. All the news releases provided by Business Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials by posting, archiving in a public web site or database, or redistribution in a computer network is strictly forbidden.

FYI : DEF 14A (proxy stmt) filed on 04/30 has new director info

Another new director form 3 - Chris Van Ingen. That's two new guys and no announcement of them coming on board.

Form 3 just out for director Hejazi Shalhram. Never heard of this dude and the web site does not show him as a director. Anyone know when he became a director?

APNO likely looking for institutional financing as opposed to trying to get the stock to trade up...

Their last presentation did not generate much interest from new investors. It was given on April 23, 2008 at the Houlihan Lokey 7th Annual Healthcare Conference.

Date Open High Low Close Volume Adj
Close
2008/05/30 - - - - - -
2008/05/29 - - - - - -
2008/05/28 0.80 0.80 0.80 0.80 10,000 0.80
2008/05/27 0.65 0.90 0.65 0.90 200 0.90
2008/05/26 - - - - - -
2008/05/23 0.90 0.90 0.90 0.90 100 0.90
2008/05/22 - - - - - -
2008/05/21 - - - - - -
2008/05/20 0.80 0.80 0.80 0.80 100 0.80
2008/05/19 0.80 0.90 0.80 0.90 7,200 0.90
2008/05/16 - - - - - -
2008/05/15 - - - - - -
2008/05/14 - - - - - -
2008/05/13 - - - - - -
2008/05/12 0.90 0.90 0.90 0.90 100 0.90
2008/05/09 - - - - - -
2008/05/08 0.80 0.80 0.80 0.80 1,000 0.80
2008/05/07 - - - - - -
2008/05/06 - - - - - -
2008/05/05 - - - - - -
2008/05/02 - - - - - -
2008/05/01 - - - - - -
2008/04/30 - - - - - -
2008/04/29 - - - - - -
2008/04/28 0.80 0.80 0.80 0.80 2,000 0.80
2008/04/25 0.80 0.80 0.80 0.80 100 0.80
2008/04/24 - - - - - -
2008/04/23 0.80 0.80 0.80 0.80 880 0.80
2008/04/22 - - - - - -
2008/04/21 0.80 0.80 0.80 0.80 100 0.80
2008/04/18 - - - - - -
2008/04/17 0.90 0.90 0.90 0.90 100 0.90
2008/04/16 - - - - - -
2008/04/15 0.90 0.90 0.90 0.90 100 0.90
2008/04/14 - - - - - -
2008/04/11 0.80 0.80 0.80 0.80 4,000 0.80
2008/04/10 - - - - - -
2008/04/09 - - - - - -
2008/04/08 0.80 0.80 0.80 0.80 7,521 0.80
2008/04/07 - - - - - -
2008/04/04 0.85 0.85 0.85 0.85 2,500 0.85
2008/04/03 0.85 0.85 0.80 0.80 600 0.80
2008/04/02 0.80 0.80 0.80 0.80 1,600 0.80
2008/04/01 0.85 0.85 0.85 0.85 100 0.85
2008/03/31 - - - - - -
2008/03/28 0.65 0.80 0.65 0.80 578 0.80
2008/03/27 0.80 0.80 0.80 0.80 140 0.80
2008/03/26 - - - - - -
2008/03/25 - - - - - -
2008/03/24 - - - - - -
2008/03/21 - - - - - -
2008/03/20 0.85 0.85 0.85 0.85 100 0.85
2008/03/19 0.85 0.85 0.85 0.85 100 0.85
2008/03/18 0.65 0.65 0.65 0.65 478 0.65
2008/03/17 - - - - - -
2008/03/14 - - - - - -
2008/03/13 0.80 0.80 0.80 0.80 210 0.80
2008/03/12 - - - - - -
2008/03/11 - - - - - -
2008/03/10 - - - - - -
2008/03/07 - - - - - -
2008/03/06 - - - - - -
2008/03/05 - - - - - -
2008/03/04 0.75 0.85 0.75 0.85 1,600 0.85
2008/03/03 0.80 0.80 0.80 0.80 100 0.80

FYI APNO presenting at California Investor Conference on 06/11

Let's hope that buyer has made a wise investment and GE's buyout for $3 is just around the corner. The ask ended the day at 1.95. Jim

The account is looking pretty good today...thanks to whoever decided to get ripped off on those 100 shares.

Someone took those .50's off the ask. Now 1.04. Now lets see the bid go up too. Jim

Beigledog - Understand your frustration. But at least this board has not diluted shares yet and the company is still viable with what looks like a sound foundation. I will hang in until they give me reason to distrust them or this economy takes them down like it has so many others. Jim

I give the management some benefit of the doubt as I think they have built value in APNO over the past few years with a very constrictive capital situation, operating with limited cash - that said, I'm not sure they will utimately maximize shareholder value as they could dilute us more vs. selling the Company (if possible) - also, at some point the expense of keeping APNO public makes no sense and there's a fair amount of M@A in life sciences - but management has definitely decided shareholder communication is a waste of time...

I just voted my proxy. I'm voting against all directors. Like you say findit, I've been in this thing for 5 years (since the XTRN days), and nothing has happened. The management is overpaid and they could really care less about the shareholders.

bear - agree. Been waiting for 5 years on this one and have not given up hope yet. Still think $3 possible if buyout occurs. No buyout and we will probably see some dilution this year.

Flat Q not surprising given economic conditions but not much room for error (or increased expenses) with low cash position and debt - still think these's substantial shareholder value vs. current stock price but it will likely only be realized in a strategic sale...

Disappointed in the .02 loss. Hopefully the increase in the backlog will balance out that negative. GE, their biggest client, is talking up expansion in the medical arena with the government helping place them upfront in new programs associated with the 'new health care system'under consideration by congress. Still hoping GE decides to take a position or buy Alpha.

From the 10Q - "Our 1% revenue increase does not reflect the fact that our new orders increased 17% in the first quarter of 2009 compared to the first quarter of 2008. By comparison, our first quarter of 2008 benefitted from a significantly larger beginning backlog as well as a one-time gain from a patent sale," said Ron Bissinger, Chief Executive Officer of Alpha Innotech.

Alpha Innotech Reports First Quarter 2009 Results
May 12, 2009 10:16:00 PM
Copyright Business Wire 2009


Email Story Discuss on ZenoBank

View Additional ProfilesSAN LEANDRO, Calif.--(BUSINESS WIRE)-- Alpha Innotech Corp. (OTCBB:APNO), a leading provider of bioanalytical systems for drug discovery and life science research, today reported financial results for their first quarter ending March 31, 2009.

First quarter revenues of $3.69 million increased 1% from the $3.67 million reported in the same period in 2008.

The Company posted a net loss of $218,963 in the first quarter ending March 31, 2009 as compared to a $2,057 net loss in the comparable period of 2008.

Excluding interest, depreciation and stock-based compensation on a non-GAAP basis, the Company had net income of $203,698 for the first quarter of 2009 compared to $338,310 for the first quarter of 2008. The non-GAAP net income (loss) is reconciled to comparable GAAP net income (loss) in the table entitled "Non-GAAP Calculation of Net Income."

"Our 1% revenue increase does not reflect the fact that our new orders increased 17% in the first quarter of 2009 compared to the first quarter of 2008. By comparison, our first quarter of 2008 benefitted from a significantly larger beginning backlog as well as a one-time gain from a patent sale," said Ron Bissinger, Chief Executive Officer of Alpha Innotech.

Recent Highlights

-- Launched SpectraPlex(TM), a multicolor fluorescent Western blotting kit optimized for use on the Company's FluorChem(R) Q imager

-- Added sales personnel in China and India to continue building revenue-generating capabilities in the rapidly growing Asia region

-- Launched a portfolio of new service products allowing customers to choose from a variety of service and support options

More information on Alpha Innotech can be found at the Company's website www.alphainnotech.com.

About Alpha Innotech Corp.

With over 10,000 systems sold worldwide, Alpha Innotech is a leading developer, manufacturer and marketer of digital imaging and analysis systems for the life science research and drug discovery markets. Our goal is to combine instruments, reagents and bioinformatics software to offer integrated modular technology platforms for functional genomics, proteomics and cell analysis markets. Our customers include pharmaceutical and biotechnology companies as well as universities, medical centers, government research institutes and agencies worldwide.

Use of Non-GAAP Financial Measures

To supplement the Company's financial statements presented in accordance with GAAP, the Company is also providing non-GAAP financial information. The presentation of non-GAAP financial information should be considered in addition to the Company's GAAP results and is not intended to be considered in isolation or as a substitute for financial information prepared and presented in accordance with GAAP. The Company believes that both management and investors benefit from referring to non-GAAP financial information that excludes certain expenses in their assessment of the Company's performance. The Company also believes that investors benefit from increased transparency into supplemental information used by management in its financial and operational decision making.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements related to the continued expansion of our international sales channels, our continued development, manufacture and supply of new products, and the ability to control our expenses, and is subject to the safe harbor created by those sections. Words such as "will," "expect," "believe," "suggest," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the Company's current expectations. These forward-looking statements involve a number of risks and uncertainties that include, but are not limited to, changing worldwide economic conditions, current volatility and disruption in the capital and credit markets, and the Company's ability to obtain additional financing if needed, that could cause actual results to differ materially from those anticipated or planned by these forward-looking statements. Please also refer to the risk factors described under "Risk Factors" and elsewhere in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed with the Securities and Exchange Commission. We expressly disclaim any obligation or undertaking to update the forward-looking statements contained in this news release except as required by law.


Alpha Innotech Corp.

Condensed Consolidated Statements of Operations

(Unaudited)

(in thousands, except per share amounts)

Three Months Ended
March 31,

2009 2008

Revenue $ 3,691 $ 3,668

Cost of Goods Sold 1,688 1,557

Gross profit 2,003 2,111

Operating expenses:

Sales and Marketing 1,185 1,185

Research and Development 313 375

General and Administrative 584 567

Total operating expenses 2,082 2,127

Loss from operations (79 ) (16 )

Other income (expense):

Interest expense (132 ) (83 )

Other income (expense), net (8 ) (3 )

Sale of patents -- 100

Net loss applicable to common stockholders $ (219 ) $ (2 )

Net loss per share:

Basic and Diluted $ (0.02 ) $ (0.00 )

Weighted average shares outstanding:

Basic and Diluted 10,925,224 10,536,390




Alpha Innotech Corp.

Condensed Consolidated Balance Sheets

As of March 31, 2009 and December 31, 2008

(in thousands)

2009 2008

Assets

Current assets:

Cash and cash equivalents $ 382 $ 649

Restricted cash 100 50

Accounts receivable, net 2,062 3,033

Inventory, net 1,764 1,464

Prepaid expenses and other current assets 155 155

Total current assets 4,463 5,351

Property and equipment, net 795 790

Loan costs, net 81 119

Other assets 105 91

Total assets $ 5,444 $ 6,351

Liabilities and shareholders' deficit

Current liabilities:

Accounts payable $ 1,086 $ 880

Accrued liabilities 1,005 1,110

Current portion of debt 2,064 2,936

Deferred revenue 1,173 1,217

Other liabilities 128 152

Total current liabilities 5,456 6,295

Debt, net of current portion 154 152

Total shareholders' deficit (166 ) (96 )

Total liabilities and shareholders' deficit $ 5,444 $ 6,351




Alpha Innotech Corp.

Non-GAAP Calculation of Net Income

(Unaudited)

(in thousands)

Three Months Ended
March 31,

2009 2008

GAAP net loss $ (219) $ (2)

Interest 132 83

Depreciation 143 137

Stock-based compensation 148 120

Non-GAAP basis income $ 204 $ 338






Source: Alpha Innotech Corp.


----------------------------------------------
Alpha Innotech Corp.
Michael P. Henighan
CFO
510-483-5610

I hear you loud and clear!

Big trade this morning. 1000 shares at the bid. Good to hear of the new relationship with Nonlinear. Now if they could interest GE in buying them out at $3, I will be a happy camper. Jim

BTW I read in an article that APNO is working on a strategic relationship with Nonlinear Dynamics re software distribution - not a big deal but at least an indication that the wheels are still turning...

At least the bid is moving up some. Now at .50. Notice of Annual Meeting just posted.

Alpha Innotech Corp.


--------------------------------------------------------------------------------


Notice Of Annual Meeting Of Stockholders

To Be Held June 18, 2009

The Annual Meeting of Stockholders of Alpha Innotech Corp. (the “Company”) will be held on Thursday, June 18, 2009 at 10:00 A.M. local time at the Company’s headquarters located at 2401 Merced Street, San Leandro, California 94577, for the following purposes, as more fully described in the accompanying Proxy Statement:

1. To elect seven nominees for directors named herein to hold office until the 2010 Annual Meeting of Stockholders and until their successors are duly elected and qualified.

2. To ratify the appointment of Rowbotham & Company LLP as the Company’s independent auditors for the fiscal year ending December 31, 2009.

3. To transact such other business as may properly come before the meeting or any adjournments or postponements thereof.

Only stockholders of record at the close of business on April 24, 2009 will be entitled to notice of, and to vote at, such meeting or any adjournments or postponements thereof. A list of stockholders entitled to vote at the meeting will be available for inspection at the Company’s headquarters for at least 10 days prior to the meeting, and will also be available for inspection at the meeting.

BY ORDER OF THE BOARD OF DIRECTORS


Ronald Bissinger
Chief Executive Officer

San Leandro, California
April 30, 2009

FYI 04/23 press release on APNO website

Guess $.65/share is too rich for bidder boosting price from $.20 to $.40 during the last few days - but @ $.65, mkt cap + debt is about $10 million, a fraction of '08 sales! - but given lack of catalyst, no rush to pay up...

life sciences - genomics research, personalized medicine, etc. - a good place to be away from general economy - another holding of mine, CLRT, actually just got a refi done with VC pref stock at a decent price - nice to see...

GE remains key to continued profitability. Refinancing debt by October appears to be critical. In the meantime lets rejoice in the fine 2008 with profits up to .01 from 2007's -.06. Like many companies, the economy will be key to future success. Looks like they are doing a good job under the current economic situation. Jim

Earnings out - OK - potential debt re-fi issues noted...

Don't know if it signals anything, but I noticed APNO has made two product-related press releases over the past couple of weeks - rare occurence...

oops - "responding" - I may be despondent about the APNO share price but that wasn't the intent!

Without directly desponding, I would say the low level of shareholder communication is troubling and, particularly with the lack of financing available and small float, there is no reason APNO needs to be public (high cost) - so I share some of your concern...

I hear you but given the difficult financing environment I would think a larger, strategic acquiror is the only way APNO gets sold in here - I don't see a going-private transaction any time soon...

a fair amount of M&A occuring in life sciences (Roche, Life Tech, BioRad) so you would hope that if APNO needs strategic capital management can sell the Company for a decent price...

A 5000 share buy at the ask just went through. 10K due by next Tuesday. That 10K may sink or raise this slooooooooooooow moving boat. Fingers crossed. Jim

That is to say despite the fact that management has done a good job repositioning APNO's distribution system and continuing to grow with tough cash flow limitations, management apparently does not believe its in their best interests to communicate much with investors or buy additional shares, so it would appear this is an under-the-radar, grind-it-out story for the foreseeable future - the low market cap would seem to discount a financing/deal...

I bought some more stock at $.50 the other day - the valuation just looks stupidly low but that's not to say I have any confidence that management will maximize shareholder value any time soon...

Alpha got its first trade of the year today. Appears this one has been forgotten by the market. Still holding a good size position. Just hoping they get the $$$ to expand production without diluting. Or even worse they go private at these prices or lower and shaft the long term shareholders. Other than this one, been a good new year so far. Jim