NEW YORK (GenomeWeb News) – Pacific Biosciences reported after the close of the market Tuesday that its first-quarter 2013 revenues dropped 44 percent year over year and 5 percent sequentially.

The Menlo Park, Calif.-based single molecule sequencing technologies firm reported total revenues of $5.6 million for the three months ended March 31, compared to $10 million for the first quarter of 2012 and $5.9 million for the last quarter of 2012.

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