CombiMatrix (CBMX) Tops Q3 EPS by 5c

CombiMatrix (NASDAQ: CBMX) reported Q3 EPS of ($0.13), $0.05 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $2.53 million versus the consensus estimate of $2.7 million.

We continue to perform and execute on key metrics in terms of driving testing volumes, adding new customers, securing reimbursement contracts, collecting cash, and entering and developing key markets. We delivered 23% revenue growth for the quarter as the business momentum established during the first half of the year continued," said Mark McDonough, CombiMatrix President and CEO. "Test volumes for our reproductive health services increased 37% and were driven by strong uptake in our PGS tests for women undergoing in vitro fertilization, which is a private-pay diagnostic service we launched in late 2014. Cash collections remained strong at 95% of revenue, and the number of billable customers increased to 234 for the quarter, up 34% from a year ago."

For earnings history and earnings-related data on CombiMatrix (CBMX) click here.

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