Fluidigm Corporation creates, manufactures, and markets technologies and life science tools focused on the exploration and analysis of single cells, as well as the industrial application of genomics. It offers C1 single-cell auto prep system that isolates and processes individual cells for genomic analysis; access array system, which enables automated polymerase chain reaction (PCR)-based target enrichment, barcoding, and tagging of targeted sequencing libraries and facilitates parallel amplification; Juno system and integrated fluidic circuits (IFCs), which automate the preparation of samples for genomic analysis; and Callisto system and IFC that enable automated cell culture and combinatorial dosing on a single device. The company also provides Polaris system and IFCs; Biomark HD system, a PCR analytical instrument for gene expression analysis, single-cell targeted gene expression analysis, microRNA analysis, single nucleotide polymorphism (SNP) genotyping, and digital PCR; and Helios/CyTOF 2 system, a mass cytometry instrument that performs single-cell protein analysis. In addition, it offers C1, access array, dynamic array, digital array, flex six, and high-throughput C1 mRNA sequencing IFCs; and Delta Gene and SNP type assays, access array target-specific primers, and targeted sequencing prep primers, as well as Maxpar reagents. Further, the company provides imaging mass cytometer instrument and reagents, laser ablation module, and other Maxpar reagent products. It serves academic institutions; clinical laboratories; and pharmaceutical, biotechnology, and agricultural biotechnology companies through its direct sales force and support organizations, distributors, or sales agents. The company was formerly known as Mycometrix Corporation and changed its name to Fluidigm Corporation in April 2001. Fluidigm Corporation was founded in 1999 and is headquartered in South San Francisco, California.
Insidermonkey Fluidigm Corporation (NASDAQ:FLDM) shares have fallen by over 20% in extended-market trading after the company announced soft preliminary third quarter revenue. For the three months ended September 30, Fluidigm estimates that its sales came in at $22.2 million, a 23% year-over-year decrease from the same period of last year. Due to the weak results, Fluidigm’s management is also suspending its guidance for the full year. CEO Gajus Worthington discussed the results in a press release: “We are exceedingly disappointed that our third quarter financial results did not meet our expectations. Although lower-than-expected sales of Helios systems contributed a significant portion of the overall shortfall, we have already seen a number of those anticipated sales close or progress in the fourth quarter. We are addressing the underlying issues impacting our performance, and continue to take actions to improve our business and return to growth.” 12 funds that we follow owned shares of Fluidigm Corporation (NASDAQ:FLDM) at the end of June, down by two funds from the end of March.
$FLDM down 21% to 5.60 in PreM trading on posting prelim Q3 revenue of 22.2M, below consensus of 29.3M, suspends FY 2016 guidance.
I want to add, this is how you can recognize a sham. When a company releases a PR and the stock goes ballistic, all it takes is a glance at their filings to see how they've been doing year over year. The trick is to ride it and then bail. Doesn't matter how much is left on the table as long as you took some green. This one may do the same thing down the road, not saying it will.
