NEW YORK (GenomeWeb News) – Pacific Biosciences reported after the close of the market Thursday that its third-quarter revenues dropped 73 percent year over year as the firm trimmed its net loss.

The Menlo Park, Calif.-based single-molecule sequencing technology firm reported total revenues of $2.8 million for the quarter ended Sept. 30, down from $10.5 million for Q3 2011. Analysts, on average, had expected revenues of $3.1 million.

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