Pacific Biosciences Announces First Quarter 2017 Financial Results
MENLO PARK, Calif., April 26, 2017 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (NASDAQ:PACB) today announced financial results for its first quarter ended March 31, 2017.
Product and service revenue for the first quarter of 2017 increased by 60% to $24.9 million, compared to $15.5 million for the first quarter of 2016. Revenue for the first quarter of 2017 was comprised of product, service and other revenue of $24.9 million, up 30% compared to $19.1 million for the first quarter of 2016. Revenue for the first quarter of 2016 included $3.6 million of contractual revenue, whereas the first quarter of 2017 included no contractual revenue.
Product and service revenue for the first quarter of 2017 increased by 60% to $24.9 million, compared to $15.5 million for the first quarter of 2016. Revenue for the first quarter of 2017 was comprised of product, service and other revenue of $24.9 million, up 30% compared to $19.1 million for the first quarter of 2016. Revenue for the first quarter of 2016 included $3.6 million of contractual revenue, whereas the first quarter of 2017 included no contractual revenue.