09 May Third Wave reports down quarter, which CEO calls temporary
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Madison, Wis. — Third Wave Technologies Inc. reported a loss of $4.4 million on revenues of $7.1 million for the quarter that ended March 31, attributing the shortfall to the timing of large orders and slow sales of a line of reagents.
Third Wave makes clinical molecular diagnostic products, including reagents for the study of infectious diseases and cystic fibrosis, a genetic condition. In the same quarter last year, the company earned $2.8 million on revenues of $15.3 million. President and CEO John Puisis said that the revenue drop was temporary and the company has traction in the marketplace.