Beats EPS, increased outlook on margins, lower burn rate and ~$7million in instrument backlog
I think Pacb had a pretty solid Q2. Projected burn rate dropped from 70 million to 67 million. Profit margins are increasing, sales are increasing, and they now have enough cash to last until the end of 2014. The outlook for the rest of the year is very positive. The CEO kept emphasizing sales will be "AT LEAST double from 2012". So we should continue to see an uptick in sales in Q3 and Q4.
Revenue expectations for the year are now $30million from $27million.