Skip to main content
Premium Trial:

Request an Annual Quote

Fluidigm Expects 19 Percent Revenue Decline in Q4

NEW YORK (GenomeWeb) – Fluidigm today announced an approximately 19 percent decline in total revenue for the fourth quarter of 2016, among other preliminary financial results.

For the three months ended Dec. 31, the South San Francisco instrumentation firm expects between $24.7 million and $25.2 million in revenues, down from $30.7 million a year ago. On average, analysts are expecting total Q4 revenues of $26.3 million.

"Despite a challenging 2016, we made solid progress in framing a strategy that will guide our company going forward," CEO Chris Linthwaite, who replaced co-founder Gajus Worthington in October, said in a statement. "We are rebalancing our investment profile, improving operational efficiency, and increasing financial discipline. These initiatives are laying the foundation for a return to sustainable growth and stockholder return." 

The firm noted that it has launched several new products, including the Maxpar mass cytometry panel, a new medium-cell high-throughput integrated fluidic circuit for the C1 system, and began commercial delivery of its Imaging Mass Cytometry systems.

Fluidigm said it expects full-year revenues to fall between $104.1 million to $104.6 million, a decrease of approximately 9 percent, compared to revenue of $114.7 million in 2015.

It ended the year with cash, cash equivalents, and investments of approximately $59.6 million.

In morning trading on the Nasdaq, shares of Fluidigm were down 8 percent at $7.64.

The Scan

Machine Learning Helps ID Molecular Mechanisms of Pancreatic Islet Beta Cell Subtypes in Type 2 Diabetes

The approach helps overcome limitations of previous studies that had investigated the molecular mechanisms of pancreatic islet beta cells, the authors write in their Nature Genetics paper.

Culture-Based Methods, Shotgun Sequencing Reveal Transmission of Bifidobacterium Strains From Mothers to Infants

In a Nature Communications study, culture-based approaches along with shotgun sequencing give a better picture of the microbial strains transmitted from mothers to infants.

Microbial Communities Can Help Trees Adapt to Changing Climates

Tree seedlings that were inoculated with microbes from dry, warm, or cold sites could better survive drought, heat, and cold stress, according to a study in Science.

A Combination of Genetics and Environment Causes Cleft Lip

In a study published in Nature Communications, researchers investigate what combination of genetic and environmental factors come into play to cause cleft lip/palate.