Sequenom (SQNM) Posts Q1 Profit of $0.12/Share

Sequenom (NASDAQ: SQNM) reported Q1 EPS of $0.12, which may note compare to the analyst estimate of ($0.03). Revenue for the quarter came in at $37.8 million versus the consensus estimate of $38.6 million.

The improvement in the net earnings from the prior year is due to a $21.0 million gain on the pooled patents agreement with Illumina, Inc., as well as improved gross margins and reduced operating expenses compared to the prior year first quarter.

"We are pleased with our continued financial and operational improvements as well as the addition of test fee revenues from our NIPT patent pool," said Bill Welch, President and Chief Executive Officer of Sequenom, Inc. "In addition, we expanded our prenatal testing menu with the launches of the VisibiliT and HerediT Universal laboratory-developed tests to support future growth."

For earnings history and earnings-related data on Sequenom (SQNM) click here.

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