BG Medicine, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue was $0.695 million against $1.03 million a year ago. The decrease in total revenues reflected a $312,000 decrease in product revenues and a $23,000 decrease in service revenues from the prior year quarter. The decrease in product revenues resulted from a $141,000 decline in orders from largest clinical laboratory customer and a $196,000 decline in purchases related relating to independent research studies, that were partially offset by increased revenues of $25,000 from product related royalties and product sales to other clinical laboratory customers. Loss from operations was $2.233 million against $3.363 million a year ago. Net loss was $2.4 million against $3.66 million a year ago. Basic and diluted net loss per share was $0.07 against $0.13 a year ago. Cash flow used in operating activities decreased by $1.9 million, a 48% decrease, to $2.1 million in the third quarter of 2014 compared to an operating cash burn of $4.0 million in the third quarter of 2013.

For the nine months, the company reported total revenue was $2.23 million against $2.92 million a year ago. Loss from operations was $6.15 million against $12.71 million a year ago. Net loss was $6.74 million against $13.91 million a year ago. Basic and diluted net loss per share was $0.21 against $0.52 a year ago. Net cash flows used in operating activities was $7.097 million against $12.820 million a year ago.

For the full year 2014, the company expects full year 2014 revenues to be between $2.8 and $3.0 million, in light of the decrease in year-to-date revenues from large clinical laboratory customer and the lack of predictability of sales relating to independent research studies and notwithstanding the modest revenue growth that is achieving from the sales of products to the majority of clinical laboratory customers. For the full year 2014, the company continues to expect to decrease operating cash burn as compared to 2013.