Pacific Biosciences reports 4Q loss
Pacific Biosciences of California reports fourth-quarter loss but tops expectations
MENLO PARK, Calif. (AP) _ Pacific Biosciences of California Inc. (PACB) on Thursday reported a loss of $19 million in its fourth quarter.
On a per-share basis, the Menlo Park, California-based company said it had a loss of 21 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The maker of genetic analysis technology posted revenue of $25.7 million in the period.
For the year, the company reported that its loss widened to $74.4 million, or 83 cents per share. Revenue was reported as $90.7 million.
In the final minutes of trading on Thursday, the company's shares hit $4.87. A year ago, they were trading at $12.67.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PACB at https://www.zacks.com/ap/PACB
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Keywords: Pacific Biosciences of California, Earnings Report
