Fluidigm's (NASDAQ:FLDM) total revenue increased 58% year-over-year to $27.6 million in the second quarter of 2014, from $17.5 million in the second quarter of 2013. The company's strong organic business across single-cell genomics and production genomics helped achieve such massive revenue growth. Placement of its C1 system for single-cell research, which is able to integrate cell isolation and sample prep into one instrument with the help of its BioMark HD qPCR system, surpassed 400 units at the end of the second quarter. Furthermore, FLDM's production genomics revenue grew approximately 60% year-over-year due to increased system utilization.
Given that single-cell biology market is a nascent one, Fluidigm has tremendous growth potential. The strategic rationale behind Fluidigm's DVS Sciences acquisition was to create cross-selling opportunities, which the company successfully achieved in the second quarter. I believe that going ahead the company will continue to benefit from DVS Sciences acquisition.
Fluidigm expects that its 2014 total revenue will be in the range between $112 million and $118 million, and organic revenue will be between $94 million and $96 million, an increase of 32-35% over 2013. Fluidigm's geographic revenue as a percent of total product revenue in the second quarter remained as follows: United States 52%; Europe 27%; Japan 1%; Asia-Pacific 17%; and Other 3%. I believe that the company's second round of growth will come from international expansion, which the company hasn't yet focused on. However, the company is rapidly expanding its manufacturing presence across the globe with the help of its Singapore facility. Once international expansion for marketing its products is done, the company's sales growth should scale significantly higher. For more insight, read my original analysis.
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