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NEW YORK (GenomeWeb) – HTG Molecular Diagnostics reported after the close of the market on Thursday that its first quarter revenues fell 14 percent year over year, due in part to lower product sales.

The molecular-profiling instrument maker reported Q1 revenues fell to $865,232 from $1.0 million in Q1 2015. Service revenues rose sharply to $265,042 from $62,292 the year before, but were offset by a drop in product revenues to $600,190 from $727,438 in the year-ago period. Product revenues included $80,000 from instrument sales and $500,000 from the sale of consumables.

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