BG Medicine, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported product revenues of $437,000 compared to $739,000 a year ago. Loss from operations was $1,256,000 compared to $1,947,000 a year ago. Net loss was $1,348,000 or $0.04 per basic and diluted share compared to $2,179,000 or $0.08 per basic and diluted share a year ago. Net cash flows used in operating activities were $1,391,000 compared to $2,379,000 a year ago. The decline in total revenues principally reflected a decrease from the prior year quarter in product revenues generated from the sale of manual micro-titer plate platform BGM Galectin-3 Test.

In light of the following developments, the company expected to reverse the sequential decline in revenues that the company have experienced over the last three quarters: Orders from large clinical laboratory customer appear to have stabilized; the company experiencing modest revenue growth from sales to the majority of clinical laboratory customers; Although sales related to independent research studies are difficult to predict, the company is currently experiencing modest revenue growth from this segment, and; the company expected recognizing incremental revenues from the U.S. market introduction of automated galectin-3 testing in the latter half of 2015. For the full year 2015, the company continued to expect to decrease operating cash burn as compared to 2014.