Sequenom Earnings: Here’s Why Investors are Buying Shares Now
Sequenom Inc. (NASDAQ:SQNM) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.04%.
Sequenom Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.26 in the quarter versus EPS of $-0.22 in the year-earlier quarter.
Revenue: Rose 158.04% to $38.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sequenom Inc. reported adjusted EPS loss of $0.26 per share. By that measure, the company missed the mean analyst estimate of $-0.24. It beat the average revenue estimate of $38.29 million.
Quoting Management: “We are pleased to see sequential improvements in volume, revenue and margin during the quarter, an indication of steady growth and sustained momentum in 2013,” said Paul V. Maier, Sequenom’s CFO. “As we complete the process of moving our billing and collections processes in-house, we anticipate even greater control in monitoring our payments from payors and improved workflows that will help us improve our collection cycle and reimbursement.”
Key Stats (on next page)…