Pacific Biosciences of California, Inc. Q1 Loss Increases, misses estimates

(RTTNews) - Pacific Biosciences of California, Inc. (PACB) revealed Loss for first quarter that decreased from the same period last year but missed the Street estimates.

The company's bottom line came in at -$81.50 million, or -$0.37 per share. This compares with -$87.44 million, or -$0.45 per share, in last year's first quarter.

Excluding items, Pacific Biosciences of California, Inc. reported adjusted earnings of -$82.33 million or -$0.37 per share for the period.

Analysts on average had expected the company to earn -$0.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.4% to $33.17 million from $29.00 million last year.

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

-Earnings (Q1): -$81.50 Mln. vs. -$87.44 Mln. last year. -EPS (Q1): -$0.37 vs. -$0.45 last year. -Analyst Estimates: -$0.31 -Revenue (Q1): $33.17 Mln vs. $29.00 Mln last year.