Fluidigm (FLDM) Misses Q4 EPS by 6c

Fluidigm (NASDAQ: FLDM) reported Q4 EPS of ($0.13), $0.06 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $44 million versus the consensus estimate of $50.72 million.

“Revenue in the fourth quarter was the highest in the company’s history, driven by exceptional performance in microfluidics as well as sequential improvement in mass cytometry,” said Chris Linthwaite, President and CEO. “Demand for our saliva-based COVID-19 tests was notable, and we saw broad-based improvement in our core business lines compared to earlier periods in the pandemic. For the full year, we delivered record-breaking revenue while navigating an incredibly volatile operating environment that impacted all facets of our business. We made excellent progress in our molecular diagnostics and immune research strategies, expanding our customer base and driving growth in our recurring revenue sources. In addition, we strengthened our balance sheet and secured new partnerships to build new capabilities, access new markets and develop new products.”

Linthwaite added, “Although COVID-19 caused significant disruption to our business, our agility and responsiveness paved the way for accelerating growth and increased opportunities in 2021 and beyond. We anticipate further progress in transforming our microfluidics franchise into a durable diagnostics platform with new product releases and partnerships. Additionally, our mass cytometry franchise is moving closer to healthcare decision making with a strong increase in publications, clinical studies, and an exciting new collaboration to enter regulated markets in China. We anticipate that new product innovation, new collaborations and partnerships, and a growing body of research and clinical trial insights will drive growth as we pioneer new fields of scientific exploration in human biology.”

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

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