What: Shares of Fluidigm (NASDAQ:FLDM), a company focused on producing tools for the life-science industry, were up more than 35% in early morning trading on higher than normal volume after the company reported earnings results that crushed expectations.

So what: The company reported revenue for the third quarter of $28.6 million, which was actually down 3% versus results a year ago but on a constant currency basis was up a modest 3%. That number topped Wall Street's forecasts as the pros were expecting only $27.3 million in revenue.

That revenue beat allowed the company to show a GAAP net loss of only $9.3 million, or $0.32 per share, which was far better than the $0.55 loss that analysts were expecting. 

Given the beat on revenue and earnings, Fluidigm was upgraded to a "buy" by an analyst at Cantor Fitzgerald, so the combination of good news has sent its stock soaring higher today.

Now what: For the full year the company now expects revenue to fall between $111 million and $114 million, which assumes a negative currency effect of 4% to 5%, and at the mid-point would be roughly flat year-over-year.

In the release, Gajus Worthington, Fluidigm's Chief Executive Officer, stated:

"We have made substantial progress in implementing our new organizational structure, adding executive sales leadership, and refocusing our commercial activity. We believe these key actions have stabilized our near-term performance and position us for growth in 2016 and beyond." 

Though today's pop certainly looks good, when you zoom-out a bit you see that Fluidigm has been an awful stock to own this year. Its shares are down a gut-wrenching 70% this year, even after accounting for today's move.

FLDM Chart

While I think investors are right to cheer this earnings beat, the company is clearly currently struggling to grow its top-line and it continues to lose money each quarter, so until we see signs that Fludigm can get its top-line heading in the right direction I'll be staying away from this company.

Brian Feroldi has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.