fluidigm corp (FLDM) Snapshot

The Saskatchewan Disease Control Laboratory (SDCL) has selected the Fluidigm BioMark(TM) HD System as a cornerstone technology for its laboratory in Regina. The SDCL has developed a unique set of real-time PCR based tests which enables it to detect a wide range of respiratory and enteric diseases such as influenza, norovirus and salmonella. These tests will be used in conjunction with the BioMark HD System to rapidly identify pathogens. The BioMark HD System uses Fluidigm's distinctive microfluidic-based integrated fluidic circuits (IFCs) to quickly turn around up to 9,216 tests in parallel within hours of receiving the sample from the clinic. The emergence of super-bugs over the past few years has placed a spotlight on the critical role disease control labs such as the SDCL play in keeping all of them safe. New strains of influenza and emerging diseases require outstanding science, rapid response and a willingness to embrace the best technology the world has to offer. Fluidigm is excited to be working with the SDCL as it implements some of the world's most advanced science in the rapid detection of potentially dangerous diseases. The BioMark HD System performs high-throughput real-time PCR using nanofluidic technology allowing scientists to collect more data points per day at less cost than conventional PCR systems. By miniaturizing the liquid handling steps required to carry out complex genetic analysis of biological samples, the BioMark HD System enables researchers to rapidly study differential expression of tissues with exceptional data quality, reliability and ease of use. The system has the ability to use a wide variety of sample types right down to the single-cell level, multiple chemistry options and additional capabilities such as genotyping, digital PCR and mutation detection.

Fluidigm Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company's total revenue was $14.5 million, an increase of 33% from $10.9 million in the first quarter of 2012. Net loss for the quarter was $3.6 million or $0.14 per basic and diluted share, compared to a net loss of $6.7 million or $0.33 per basic and diluted share in the first quarter of 2012. Non-GAAP net loss for the quarter was $3.5 million or $0.14 per basic and diluted share, compared with $4.9 million or $0.24 per basic and diluted share for the first quarter of 2012. Loss from operations was $5.1 million compared with $6.3 million a year ago. Loss before income taxes was $3.5 million compared with $6.7 million a year ago. Net cash used in operating activities was $0.88 million compared with $6.6 million a year ago. Purchases of property and equipment was $0.7 million compared with $0.4 million a year ago. The company is maintaining its 2013 total revenue growth guidance of 22%-26% over 2012. Historically, the company's product revenues have tended to be lowest in the first quarter of the year and highest in the fourth quarter of the year. This trend is expected to continue in 2013. Capital spending is projected to be between $4 million and $5 million. Total cash flow is expected to be negative for 2013. The company expects to break even at the EBITDA level at quarterly revenue of approximately $20 million. The company maintains full year 2013 total OpEx guidance. Operating expenses to be between $63 million and $66 million.

Fluidigm Corporation announced an agreement to develop and supply a customized version of its high-throughput library prep system to the DKMS (Deutsche Knochenmarkspenderdatei gemeinnützige Gesellschaft mbH) Life Science Lab. The new system will help the DKMS accelerate its research to fight against blood cancer by ultimately enabling it to characterize the HLA genes from several thousand samples a week for its donor registry. The Fluidigm custom Access Array(TM) System, currently under development, will seamlessly automate library preparation for next-generation sequencing (NGS) with a new integrated fluidic circuit (IFC) that will greatly increase sample throughput. This new format specifically addresses the sample throughput and quality requirements demanded by DKMS, while meeting the complexity of library prep for HLA typing.