Pacific Biosciences Posts Q4, FY2012 Revenue Decline – Expects 2013 Uptick

from GenomeWeb

PacBio SequencerNEW YORK (GenomeWeb News) – Pacific Biosciences reported after the close of the market Tuesday that its fourth-quarter revenues fell 52 percent year over year but were up sequentially as product revenue jumped from the third quarter.

The Menlo Park, Calif.-based single molecule sequencing technologies firm reported total revenues of $5.9 million for the three months ended Dec. 31, compared to $12.4 million for the fourth quarter of 2011. The firm beat analysts’ consensus estimate for revenues of $4.4 million, and though its sales were down sharply year over year, its revenues more than doubled from $2.8 million in Q3 2012.

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