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2/29/2012 9:45:37 AM
IRVINE, Calif., Feb. 29, 2012 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics company performing DNA-based testing services for cancer and developmental disorders, reported today that total revenues for the fourth quarter of 2011 increased 52% to $1.2 million from $804,000 in the fourth quarter of 2010. Diagnostic services revenues during the fourth quarter of 2011, which comprised all of the revenues generated, increased 55% compared to diagnostic services revenues of $791,000 recognized during the fourth quarter of 2010. The Company performed a total of 1,318 billable diagnostic tests for 103 customers in the fourth quarter of 2011, compared to 912 tests for 89 customers in the fourth quarter of 2010. For the year ended December 31, 2011, diagnostic services revenues increased by 39% to $4.6 million as compared to $3.3 million for the comparable 2010 period.
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