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The company said that in the second half of 2020, its core business, excluding COVID-19 clinical reagents and testing revenues, remained resilient despite lockdowns.
The firm now expects 2020 revenues to grow approximately 22 percent year over year and adjusted earnings per share of $2.13 to $2.14.
The company now expects organic revenues to grow 40 percent year over year in Q4, driven by its base business and sales related to the COVID-19 response.
The Temple City, California-based firm has raised its full-year guidance for the third time this year and now expects 2020 revenues of $300 million.
The company has been relentless in scaling its capabilities to offer COVID-19 testing solutions in the face of the coronavirus pandemic.
The company's system revenues were up 28 percent to $19.5 million and consumables revenues dropped 12 percent to $11.8 million.
Product revenues increased 39 percent year over year to $93.3 million, while license and other revenues were down 56 percent to $4.9 million.
The company said that its Diagnostics and Genomics segment posted 18 percent growth driven by sales of RNAscope RNA in situ hybridization detection products.
The firm's molecular solutions revenues increased 79 percent to $31.7 million due to COVID-19 testing demand.
The firm said that its molecular diagnostics revenues grew almost fivefold year over year, based on strong global demand for its SARS-CoV-2 molecular assays.