NEW YORK (GenomeWeb) – Veracyte reported after the close of the market on Monday that its third quarter 2017 revenues declined 6 percent year over year.

For the three months ended Sept. 30, the genomic testing firm reported total revenues of $17.5 million, compared to $18.6 million in Q3 2016, missing the average analyst estimate of $19.6 million.

The firm said that revenue accrued for tests performed during the quarter increased 24 percent, but was offset by the impact of higher cash collections in the prior-year quarter for tests performed prior to July 1, 2016.

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