Pacific Biosciences set to rally

Pacific Biosciences of California, Inc. PACB reported fourth-quarter 2019 break-even earnings per share (EPS) versus the Zacks Consensus Estimate of a loss of 16 cents. The company had reported a loss of 21 cents in the year-ago quarter.

Revenues of this Zacks Rank #3 (Hold) company totaled $27.93 million, which outpaced the Zacks Consensus Estimate by 9.8%. Revenues improved 43% from the year-ago quarter’s tally.

FY19 at a Glance

Pacific Biosciences’ 2019 revenues totaled $77.7 million, up 17.2% but below the Zacks Consensus Estimate of $88.4 million.

Adjusted loss per share was 55 cents, narrower than the Zacks Consensus Estimate of a loss of 71 cents. The company had reported a loss of 76 cents in 2018.

Segmental Analysis

Product Revenues: At this segment, revenues amounted to $24.6. million, up 49.4% from the prior-year quarter’s tally.

Service and Other Revenues: At this segment, revenues came in at $3.4 million, up 9.4% year over year.