Pacific Biosciences of California, Inc. Q3 Loss Decreases, beats estimates

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

The company's bottom line totaled -$66.87 million, or -$0.26 per share. This compares with -$76.97 million, or -$0.34 per share, in last year's third quarter.

Excluding items, Pacific Biosciences of California, Inc. reported adjusted earnings of -$67.93 million or -$0.27 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 72.4% to $55.69 million from $32.31 million last year.

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

-Earnings (Q3): -$66.87 Mln. vs. -$76.97 Mln. last year. -EPS (Q3): -$0.26 vs. -$0.34 last year. -Analyst Estimates: -$0.32 -Revenue (Q3): $55.69 Mln vs. $32.31 Mln last year.