CombiMatrix Corporation (CBMX) saw its loss narrow to $0.52 million, or $0.19 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $1.49 million, or $3.63 a share.

Revenue during the quarter grew 27.42 percent to $3.79 million from $2.97 million in the previous year period. Gross margin for the quarter expanded 793 basis points over the previous year period to 60.18 percent. Operating margin for the quarter stood at negative 13.65 percent as compared to a negative 49.70 percent for the previous year period.

Operating loss for the quarter was $0.52 million, compared with an operating loss of $1.48 million in the previous year period.

"We are delighted to be reporting another quarter of exceptional financial and operational performance," said Mark McDonough, CombiMatrix president and chief executive officer. "Revenues increased 27% year-over-year to $3.8 million, driven by a 32% increase in our reproductive health segment. Gross margin on diagnostic services improved to 59.9% from 51.6% a year ago, cash collections reached a record $3.4 million, and net loss decreased to $518,000, a nearly $1 million improvement from the prior year. We believe that we are tracking very well toward reaching our goal of positive cash flows from operations by the fourth quarter of 2017."