Fluidigm (FLDM) Tops Q4 EPS by 1c, Revenues Beat

Fluidigm (NASDAQ: FLDM) reported Q4 EPS of ($0.18), $0.01 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $32.4 million versus the consensus estimate of $30.84 million.

Financial Highlights Fourth Quarter 2019

• Revenue of $32.4 million was flat, with instrument revenue growth of 16 percent, compared to the fourth quarter of 2018.
• GAAP net loss for the quarter was $12.7 million, compared with a GAAP net loss of $14.8 million for the fourth quarter of 2018.
• Non-GAAP net loss was $2.3 million for the quarter, compared with a $2.4 million non-GAAP net loss for the fourth quarter of 2018.

“With solid execution on new commercial and marketing strategies, the fourth quarter reflected strong sequential quarterly growth driven by customer adoption of Imaging Mass Cytometry™. For the full year, we drove innovation, launching over 10 new products for our mass cytometry business, as well as new microfluidics content to drive penetration of new key accounts. We also reduced our debt, exiting the year with a stronger balance sheet,” said Chris Linthwaite, President and CEO.

“Adoption across new markets has been an important driver for our mass cytometry business. In the last few months, we achieved further penetration in the pharma/biotech segment with a large CRO adopting CyTOF® for commercializing sophisticated biomarker discovery and clinical support services,” added Linthwaite. “A landmark study published in Nature, a collaboration between the University of Zurich and a Swiss consortium of pathologists and hospital systems, demonstrated the importance of high-parameter protein image analysis of breast cancer tumors for patient stratification. Entering 2020, we expect to advance mass cytometry technology further into the health care ecosystem while reinvigorating our microfluidics franchise. We are well-positioned for accelerating growth, particularly in the latter part of the year.”

Annual 2020 Guidance

• Revenue expected to grow between 8 percent and 11 percent.
• GAAP operating loss of $51 million to $54 million.
• Non-GAAP operating loss of $21 million to $24 million.

For earnings history and earnings-related data on Fluidigm (FLDM) click here.

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