Sequenom Q2 Results Miss Estimates - Quick Facts

(RTTNews) - Sequenom Inc. (SQNM) reported that its second quarter net loss was $31.0 million, or $0.27 per share, versus a net loss of $29.6 million, or $0.26 per share in the comparable period a year earlier.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues improved 91 percent to $34.9 million from $18.3 million in the year-ago quarter, but were below analysts' estimate of $46.25 million.

Paul V. Maier, Sequenom's CFO, stated, "We are disappointed by the delay in the collection of diagnostic segment revenues during the second quarter, as pressure associated with coding and billing policies on the national level are slowing the timing of reimbursement. We are in the process of working through these challenges and expect to see improvements in collections during the second half of 2013,"