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Fluidigm Prelim Q4, 2015 Earnings Beat Estimates

NEW YORK (GenomeWeb) – Fluidigm today announced that it anticipates total fourth quarter 2015 revenue of between $30 million and $31 million, and full-year 2015 revenue of $114 million to $115 million, ahead of the consensus Wall St. estimates of $28.7 million for Q4 and $112.6 million for the full year.

Q4 expected revenue represents an approximate 9 percent drop from $33.5 million in Q4 2014, Fluidigm said. On a constant-currency basis, total Q4 2015 revenue is expected to decrease about 5 percent year over year. Full-year 2015 revenue at the midpoint of the range represents a 2 percent drop from $116.5 million in 2014. On a constant-currency basis, 2015 revenue is expected to increase about 4 percent year over year.

"We are pleased that our fourth quarter performance reflected continued stabilization of our business after a challenging start to the year," Fluidigm President and CEO Gajus Worthington said in a statement. "We remain encouraged by trends in the single-cell biology market. Additionally, given the adjustments and hires we've discussed over the year, we are exiting 2015 with a stronger and more focused commercial structure. We believe our organizational changes position us for growth in 2016 and beyond."

In August, after missing Wall St. estimates for the second straight quarter, Worthington noted that the company had initiated organizational changes to bolster its production genomics revenue, focus more on single-cell biology applications, and strike more of a balance between new product opportunities and continuing sales for its BioMark and C1 products.

Fluidigm will host a conference call in early February 2016 to discuss full fourth quarter results and issue 2016 revenue guidance.

Fluidigm's shares were up more than 11 percent at $9.77 in morning trading on the Nasdaq.