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DewDiligence

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DewDiligence

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Re: genisi post# 83768

Thursday, 09/22/2011 5:32:24 AM

Thursday, September 22, 2011 5:32:24 AM

Post# of 252279
Nice call by CrazyPete (#msg-55984627)—PACB plunges 24% on layoff:

http://www.sec.gov/Archives/edgar/data/1299130/000119312511252308/d234623d8k.htm

On September 20, 2011, Pacific Biosciences of California, Inc. (the “Company”) implemented a reduction in its workforce of approximately 130 employees, or approximately 28% of its total workforce. The actions taken were in consideration of uncertainties associated with the economic environment and to position the Company for long-term success. The Company’s current infrastructure was staffed to support a faster adoption rate for its products. The reduction implemented will allow the Company to continue support of its growing customer base with improved service and continued product enhancements, while at the same time conserving cash.

The share price is down 75% from the Oct 2010 IPO (#msg-55970244).

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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