The company attributed the decline to lower revenues from its collaboration with Quest Diagnostics.
Product sales rose nearly 23 percent during the year, but this was offset by a 34 percent dip in revenue from an R&D collaboration with Quest Diagnostics.
The French molecular diagnostics company said almost 95 percent of its revenue during the quarter came from its R&D collaboration with Quest Diagnostics.
The company and the hospital will conduct a clinical study into the detection and prevention of the disease.
Under the arrangement, the partners will use Genomic Vision's molecular combing technology to identify genetic variations underlying different diseases.
A 56 percent increase in revenues from the French molecular diagnostic firm's collaboration with Quest Diagnostics drove up overall revenue growth.
The firm said the drop in revenues was due to a lack of milestone payments from Quest Diagnostics, which accounted for half of all revenues in the prior-year period.
Through its agreement with Quest Diagnostics, the company plans to launch a BRCA1/2 test, followed by tests for Lynch syndrome and HPV.
The alliance is developing new optical DNA mapping technologies for diagnostic applications.
Pacific Biosciences is hosting a competition in which researchers are vying to win free sequencing for an organism with the most interesting genome.
An opinion piece appearing in Newsday likens familial DNA searches to stop-and-frisk policies.
The San people of Africa have drawn up a code of conduct for researchers, according to the Conversation.
In Nature this week: genotypes linked to hip osteoarthritis, and more.