Fluidigm Shares Gain As Preliminary Q4, FY21 Sales Exceed Expectations

Fluidigm Corp FLDM expects Q4 FY21 sales of $38.0 million - $38.3 million, exceeding the company's prior guidance of $31 million – $34 million and the analyst estimate of $32.7 million.

• Base product and service revenue, excluding COVID-19 testing, is expected to be $35.1 million - $35.4 million, +13%–14% Y/Y.
• Mass Cytometry product and service revenue is anticipated to increase 8% - 9% to $21.0 million - $21.2 million. Base Microfluidics product and service revenue is expected to reach $14.1 million - $14.2 million.
• Related: Fluidigm Q3 Sales Trail Estimates; Cuts Annual Guidance As COVID-19 Sales Retreat.
• For FY21, the company forecasts total revenue of $130.3 million - $130.6 million, exceeding previous guidance of $123 million –$127 million and beating the estimate of $125 million.
• "Core demand for our products remained healthy during the quarter. Supply chain issues were partially resolved, and we were able to meet a significant portion of this demand," said Chris Linthwaite, President and CEO. 
• Price Action: FLDM shares are up 2.67% at $3.27 during the market session on the last check Tuesday.