Pacific Biosciences of California (PACB - Free Report) incurred fourth-quarter 2018 adjusted loss of 21 cents per share, wider than the Zacks Consensus Estimate of a loss of 13 cents. The company had incurred a loss of 18 cents in the year-ago quarter.
Revenues totaled $19.5 million, which missed the Zacks Consensus Estimate by 7.4% and declined 21.7% from the year-ago quarter’s tally. The downturn can be attributed to lower instrument shipments and consumables sales.
The stock carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Segmental Analysis
Product Revenue: At this segment, revenues amounted to $16.4 million, down 24.8% from the prior-year quarter’s tally.
Service and Other Revenue: At this segment, revenues came in at $3.1 million, down 0.1% year over year.
Pacific Biosciences of California, Inc. Price and Consensus
Margin Analysis
Gross profit in the fourth quarter of 2018 was $5.7 million, down 39.4% on a year-over-year basis. Gross margin was 29.4% of total revenues, significantly lower than 38.1% of net revenues as reported in the year-ago quarter.
Research and Development expenses increased 4.1% to $16.3 million in the quarter. Also, sales, general and administrative expenses rose 39.7% to $20.1 million.
Operating expenses totaled $36.4 million, up 21.1% year over year.
About the Illumina & Pacific Biosciences Merger
Illumina (ILMN - Free Report) confirms its merger with Pacific Biosciences. Per management, the total value of the deal is approximately $1.2 billion. The agreement is expected to close by mid-2019. During the fourth quarter, Pacific Biosciences’ operating expenses in connection with this deal summed approximately $8.2 million.
For investors’ notice, the DNA sequencing market is highly competitive in nature owing to the presence of other established bigwigs like Thermo Fisher Scientific Inc. (TMO - Free Report) . According to various analysts, QIAGEN N.V. (QGEN - Free Report) currently offers one of the broadest portfolios of molecular technologies for human healthcare. Also, it provides services in pharmacogenomics.
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Pacific Biosciences of California (PACB - Free Report) incurred fourth-quarter 2018 adjusted loss of 21 cents per share, wider than the Zacks Consensus Estimate of a loss of 13 cents. The company had incurred a loss of 18 cents in the year-ago quarter.
Revenues totaled $19.5 million, which missed the Zacks Consensus Estimate by 7.4% and declined 21.7% from the year-ago quarter’s tally. The downturn can be attributed to lower instrument shipments and consumables sales.
The stock carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Segmental Analysis
Product Revenue: At this segment, revenues amounted to $16.4 million, down 24.8% from the prior-year quarter’s tally.
Service and Other Revenue: At this segment, revenues came in at $3.1 million, down 0.1% year over year.
Pacific Biosciences of California, Inc. Price and Consensus
Margin Analysis
Gross profit in the fourth quarter of 2018 was $5.7 million, down 39.4% on a year-over-year basis. Gross margin was 29.4% of total revenues, significantly lower than 38.1% of net revenues as reported in the year-ago quarter.
Research and Development expenses increased 4.1% to $16.3 million in the quarter. Also, sales, general and administrative expenses rose 39.7% to $20.1 million.
Operating expenses totaled $36.4 million, up 21.1% year over year.
About the Illumina & Pacific Biosciences Merger
Illumina (ILMN - Free Report) confirms its merger with Pacific Biosciences. Per management, the total value of the deal is approximately $1.2 billion. The agreement is expected to close by mid-2019. During the fourth quarter, Pacific Biosciences’ operating expenses in connection with this deal summed approximately $8.2 million.
For investors’ notice, the DNA sequencing market is highly competitive in nature owing to the presence of other established bigwigs like Thermo Fisher Scientific Inc. (TMO - Free Report) . According to various analysts, QIAGEN N.V. (QGEN - Free Report) currently offers one of the broadest portfolios of molecular technologies for human healthcare. Also, it provides services in pharmacogenomics.
Zacks' Best Stock-Picking Strategy
It's hard to believe, even for us at Zacks. But from 2000-2018, while the market gained +4.8% per year, our top stock-picking strategy averaged +54.3% per year.
How has that screen done lately? From 2017-2018, it sextupled the market's +15.8% gain with a soaring +98.3% return.
Free – See the Stocks It Turned Up for Today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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