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Third Wave s Revenues Up in Q3; CFO to Step Down This Month

NEW YORK, Oct. 27 (GenomeWeb News) - Third Wave Technologies today reported increased revenues and miniscule earnings for the third quarter. The company said its CFO will leave by the end of the month (see this afternoon's PEOPLE column for information about additional personnel changes at Third Wave).

 

Third Wave booked $10.5 million in revenues during the quarter ended Sept. 30, up from $9.4 million during the year-ago quarter.

 

R&D expenses for the quarter stayed flat, at $2.7 million compared to $2.8 million last year.

 

Third Wave's net income totaled $24,000, representing no earnings per share, compared to a net loss of $1.4 million, or $.04 per diluted share, for the same period last year.

 

As of Sept. 30, Third Wave had $67.1 million in cash, cash equivalents, and short-term investments.

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