This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Fluidigm Reports Strong Q4 And Full Year 2012

Fluidigm Corporation (NASDAQ:FLDM) today announced its financial results for the fourth quarter and full year ended December 31, 2012.

Product revenue for the fourth quarter of 2012 was $15.4 million, an increase of 25% from $12.3 million in the fourth quarter of 2011. Product margin was 72% in the fourth quarter of 2012, up from 67% in the fourth quarter of 2011 and in-line with 72% in the third quarter of 2012. Total revenue for the fourth quarter of 2012 was $15.7 million, an increase of 21% from $13.0 million in the fourth quarter of 2011. Net loss for the fourth quarter of 2012 was $3.6 million, compared to a net loss of $3.5 million in the fourth quarter of 2011. Non-GAAP net loss for the fourth quarter of 2012 was $2.1 million, compared with $1.9 million non-GAAP net loss for the fourth quarter of 2011 (see accompanying table for reconciliation of GAAP and non-GAAP measures).

For the full year, product revenue increased by 27% to $51.5 million, compared to $40.6 million in 2011. Total revenue increased for the full year by 22% to $52.3 million, compared to $42.9 million in 2011. Full year net loss was $19.0 million compared to a net loss of $22.5 million in 2011. Non-GAAP net loss for the full year 2012 was $12.7 million, compared to a non-GAAP net loss of $11.6 million in 2011 (see accompanying table for reconciliation of GAAP and non-GAAP measures).

“In the quarter, we experienced significant momentum in the single-cell genomics market. The availability of the C 1™ Single-Cell Auto Prep System is catalyzing new areas of biological exploration by simplifying the handling and sample preparation of individual cells — a major roadblock to routine single-cell analysis. Since the C 1 launch through year end, we sold 36 C 1 systems and expect interest to continue to build in 2013 as we expand our menu of single-cell applications. In addition, approximately 60% of our BioMark™ HD system sales in the quarter were motivated by single-cell research,” said Gajus Worthington, Fluidigm President and Chief Executive Officer.

“We are also seeing healthy demand from our production genomics customers who utilize our technology for high-throughput repeat testing applications, both in the human and agricultural genomics markets. Analytical systems (BioMark HD and EP1™) sales rebounded from the previous quarter and grew approximately 50% sequentially, driven by single-cell applications. Furthermore, Access Array™ system placements grew sequentially, driven by clinical laboratory applications such as HLA typing,” continued Worthington.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,229.68 -50.06 -0.29%
S&P 500 2,000.01 -10.39 -0.52%
NASDAQ 4,539.4090 -40.38 -0.88%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs