The parent company of soon-to-be-independent CombiMatrix Corp. reported first quarter results Thursday, and they showed the Mukilteo company has rapidly increased sales of its DNA diagnostic tools.
Here’s the raw press release with all the results, http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20060420005856&newsLang=en.
Key quote from the results: “Revenues for the first quarter of 2006 were $1,245,000 versus $1,069,000 in the comparable 2005 period. First quarter 2006 revenues were comprised of $264,000 in government contact revenues and $981,000 in CustomArray product, equipment and service revenues. First quarter 2005 revenues were comprised of $731,000 of government contract revenues and $338,000 of CustomArray product and service revenues.”
Which means that CombiMatrix is increasing sales of its products to the market and relying less on just government contracts, a nice trend. By my math, sales of its microarray products and related equipment and services grew by 190 percent from the first quarter of last year to the first quarter of 2006. Not bad.
On the other hand, the company’s net loss went from $3 million to nearly $7.7 million for the quarter. CombiMatrix’s tracking stock closed down 5 cents at $2.07 a share before today’s results came out.