Pacific Biosciences of California, Inc. Q2 Loss Decreases, beats estimates

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

The company's bottom line totaled -$69.33 million, or -$0.28 per share. This compares with -$71.39 million, or -$0.32 per share, in last year's second quarter.

Excluding items, Pacific Biosciences of California, Inc. reported adjusted earnings of -$65.60 million or -$0.26 per share for the period.

Analysts on average had expected the company to earn -$0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 34.1% to $47.57 million from $35.47 million last year.

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

-Earnings (Q2): -$69.33 Mln. vs. -$71.39 Mln. last year. -EPS (Q2): -$0.28 vs. -$0.32 last year. -Analyst Estimates: -$0.32 -Revenue (Q2): $47.57 Mln vs. $35.47 Mln last year.