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Pacific Biosciences (PACB) Announces First Quarter 2014 Financial Results


4/30/2014 5:16:36 PM

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MENLO PARK, Calif., April 30, 2014 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (Nasdaq:PACB) today announced financial results for its first quarter ended March 31, 2014.

Revenue for the first quarter of 2014 totaled $11.6 million, compared to $5.6 million for the first quarter of 2013. First quarter 2014 revenue reflects the installation of nine PacBio® RS II systems, compared to three PacBio® RS systems during the first quarter of 2013. Total revenue for the first quarter of 2014 also included $1.7 million of revenue recognized pursuant to a development agreement the Company entered into with Roche Diagnostics during September 2013. The Company booked orders for nine PacBio RS II instruments during the quarter and ended the quarter with 13 instruments in backlog.

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