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Fluidigm Reports Preliminary Q4 Revenues of $21M

NEW YORK (GenomeWeb News) — Fluidigm said today that it expects total revenue for the fourth quarter of 2013 to be approximately $21 million, beating consensus analyst estimates of $19.5 million and representing a 34 percent spike compared to Q4 2012 revenues of $15.7 million.

Based on preliminary, unaudited financial data, Fluidigm said that it expected Q4 instrument revenue to be approximately $12 million and consumables revenue to be approximately $8.5 million compared to $9.6 million and $5.8 million, respectively, in the same quarter last year.

Fluidigm said that it had installed a total of approximately 920 instruments at the end of the fourth quarter.

The South San Francisco, Calif.-based microfluidic systems developer also said that it anticipates 2013 total revenue of $71 million, which would also beat consensus analyst estimates of $69.8 million. Fluidigm said that it projects total revenue growth for full-year 2014 to be between 23 percent and 28 percent.

"We ended 2013 with record quarterly revenue across both instruments and consumables in Q4 2013," Fluidigm CEO Gajus Worthington said in a statement. He added that the company "continued to see strong momentum in the single-cell genomics market" in Q4, with single-cell genomics revenue nearly doubling year-over-year and representing approximately half of the company's product revenue.

Fluidigm will release full financial results for Q4 and full-year 2013 in February.