IRVINE, Calif., Feb. 24, 2011 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics company performing DNA-based testing services for cancer and developmental disorders, reported today that total revenues for the fourth quarter of 2010 increased 26 percent to $804,000 from $637,000 in the fourth quarter of 2009. For 2010, total revenues increased 38 percent to $3.6 million from $2.6 million in 2009. Fourth quarter 2010 revenues included diagnostic test revenues of $791,000 and array CGH sales of $13,000, compared to diagnostic test revenues of $575,000 and array CGH sales of $62,000 during the fourth quarter of 2009. For 2010, diagnostic test revenues were $3.3 million and array CGH sales were $271,000, compared to diagnostic test revenues of $2.3 million and array CGH sales of $238,000 during 2009. In addition, during the fourth quarter of 2010, CombiMatrix was awarded and paid $489,000 in grants under the Internal Revenue Service's Section 48D for Qualified Therapeutic Discovery Projects. These proceeds were recorded as other income.
CombiMatrix Corporation Reports Fourth Quarter And Year End 2010 Financial Results
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