GenMark Diagnostics (GNMK) Reports First Quarter 2012 Results
5/9/2012 10:18:32 AM
CARLSBAD, Calif.--(BUSINESS WIRE)--GenMark Diagnostics, Inc. (Nasdaq:GNMK) today reported financial results for the first quarter ended March 31, 2012. Revenues for the quarter ending March 31, 2012 were $2.2 million compared with $758,000 during the first quarter of 2011. The 185% year-over-year increase in total revenue reflects an increase in the number of systems placed at customer sites, growth in test menus and a significant increase in the number of tests sold. Reagent revenues for the first quarter grew 213% year-over-year to $1.9 million from $608,000. Instrument and other revenues increased by 60% year-over-year to $240,000 from $150,000 due mainly to capital sales of instruments. The Company placed a net 22 analyzers during the quarter, bringing the installed base to 189, all in end-user laboratories within the U.S. market.