26 Feb More revenue can't prevent a Q4 loss for Third Wave
Madison, Wis. – Third Wave Technologies, a Madison-based maker of molecular diagnostic products, said its quarterly loss increased to $7.94 million, or 18 cents a share, in the final quarter of 2007.
The loss comes despite an overall Q4 revenue increase of 31 percent to $8.89 million, and a 26 percent increase in clinical product revenue – including products that can detect human papillomavirus – to $7.29 million.
The company’s Q4 loss compares to a $4.62 million net loss, or 11 cents per share, during the same period of 2006.
For all of 2007, Third Wave’s loss widened to $16.9 million, or 39 cents a share, from $10.8 million or 25 cents.
Total revenue for the year was $31.1 million, including annual diagnostic revenue of $26.3 million, a rise 25 percent.
In terms of investor guidance for 2008, Third Wave anticipates total revenues of $36 million to $37.5 million, clinical molecular diagnostic revenue of between $33 million to $34.5 million, and research revenue of at least $3 million.
Third Wave’s products are used for DNA and RNA analysis.
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