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(RTTNews) - Pacific Biosciences of California, Inc. (PACB) reported Loss for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled -$78.18 million, or -$0.29 per share. This compares with -$88.02 million, or -$0.36 per share, in last year's first quarter.

Excluding items, Pacific Biosciences of California, Inc. reported adjusted earnings of -$71.40 million or -$0.26 per share for the period.

Analysts on average had expected the company to earn -$0.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.2% to $38.81 million from $38.90 million last year.

Pacific Biosciences of California, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$78.18 Mln. vs. -$88.02 Mln. last year. -EPS (Q1): -$0.29 vs. -$0.36 last year. -Revenue (Q1): $38.81 Mln vs. $38.90 Mln last year.

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