Revenue during the quarter grew 21.90 percent to $30.59 million from $25.09 million in the previous year period. Gross margin for the quarter contracted 162 basis points over the previous year period to 54.27 percent. Total expenses were 81.44 percent of quarterly revenues, down from 86.20 percent for the same period last year. This has led to an improvement of 475 basis points in operating margin to 18.56 percent.

Operating income for the quarter was $5.68 million, compared with $3.46 million in the previous year period.

However, the adjusted operating income for the quarter stood at $6.79 million compared to $6.26 million in the prior year period. At the same time, adjusted operating margin contracted 274 basis points in the quarter to 22.21 percent from 24.95 percent in the last year period.

Tony J. Hunt, president and chief executive officer said "We had a strong start to the year, reporting first quarter revenue growth of 24% at constant currency. Our Chromatography and Filtration businesses were major drivers of growth in the quarter, with our two acquisitions from 2016 ��" Atoll GmbH and TangenX Technology Corporation ��" contributing to the overall success. With a positive outlook for 2017, we are today reaffirming our full year revenue guidance and increasing our net income and EPS guidance."

For financial year 2017, Repligen Corporation forecasts revenue to be in the range of $121 million to $126 million. The company projects net income to be in the range of $11.50 million to $13.50 million and expects adjusted net income to be in the range of $18.50 million to $20.50 million. It company expects diluted earnings per share to be in the range of $0.36 to $0.41. The company expects diluted earnings per share to be in the range of $0.55 to $0.60 on adjusted basis.