We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Pacific Biosciences (PACB) Incurs Loss in Q1, Revenues Fall
Read MoreHide Full Article
Pacific Biosciences of California (PACB - Free Report) incurred first-quarter 2019 adjusted loss of 20 cents per share, wider than the Zacks Consensus Estimate of a loss of 17 cents. The company had incurred a loss of 20 cents in the year-ago quarter.
Revenues totaled $16.4 million, which missed the Zacks Consensus Estimate of $22 million and declined 15.2% from the year-ago quarter’s tally.
The stock carries a Zacks Rank #4 (Sell).
Pacific Biosciences of California, Inc. Price, Consensus and EPS Surprise
Product Revenue: At this segment, revenues amounted to $16.4 million, down 17.4% from the prior-year quarter’s tally.
Service and Other Revenue: At this segment, revenues came in at $3 million, down 3.6% year over year.
Margin Analysis
Gross profit in the first quarter of 2019 was $5.1 million, down 29.9% on a year-over-year basis. Gross margin was 31.2% of total revenues, significantly lower than 37.7% of net revenues as reported in the year-ago quarter.
Research and Development expenses fell 5.1% to $15.5 million in the quarter. Also, sales, general and administrative expenses rose 32.4% to $19.8 million.
Operating expenses totaled $35.3 million, up 12.8% year over year.
About the Illumina & Pacific Biosciences Merger
Illumina (ILMN - Free Report) has confirmed 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.
Stryker delivered first-quarter 2019 adjusted earnings per share of $1.88, beating the Zacks Consensus Estimate by 2.2%. Revenues of $3.52 billion were in line with the consensus estimate.
CONMED posted first-quarter 2019 adjusted earnings per share of 57 cents, which exceeded the Zacks Consensus Estimate of 54 cents. Revenues of $218.4 million outpaced the consensus estimate of $213 million.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
Image: Bigstock
Pacific Biosciences (PACB) Incurs Loss in Q1, Revenues Fall
Pacific Biosciences of California, Inc. Price, Consensus and EPS Surprise
Pacific Biosciences of California, Inc. Price, Consensus and EPS Surprise | Pacific Biosciences of California, Inc. Quote
See the 7 breakthrough stocks now>>