Pacific Bio (PACB) Tops Q1 EPS by 2c
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Pacific Biosciences of California, Inc. Announces First Quarter 2016 Financial Results
April 21, 2016 4:00 PM EDTMENLO PARK, Calif., April 21, 2016 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (NASDAQ: PACB) today announced financial results for its first quarter ended March 31, 2016.
Revenue for the first quarter of 2016 increased by 8% to $19.1 million compared to $17.6 million for the first quarter of 2015. Product and service revenue for the first quarter of 2016 was $15.5 million, compared to $14.0 million for the first quarter of 2015. Revenue for the first quarter of each of 2016 and 2015 reflected $3.6 million of contractual revenue amortization from the upfront Roche payment pursuant to the Roche agreement.
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