Pacific Biosciences Of California, Inc. Q3 Loss Decreases, Beats Estimates

Pacific Biosciences of California

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(RTTNews) - Pacific Biosciences of California, Inc. (PACB) reported Loss for third quarter that decreased from the same period last year and beat the Street estimates.

The company's bottom line came in at -$60.73 million, or -$0.22 per share. This compares with -$173.32 million, or -$0.64 per share, in last year's third quarter.

Excluding items, Pacific Biosciences of California, Inc. reported adjusted earnings of -$46.0 million or -$0.17 per share for the period.

Analysts on average had expected the company to earn -$0.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.0% to $39.97 million from $36.01 million last year.

Pacific Biosciences of California, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): -$60.73 Mln. vs. -$173.32 Mln. last year. -EPS (Q3): -$0.22 vs. -$0.64 last year. -Revenue (Q3): $39.97 Mln vs. $36.01 Mln last year.