Affymetrix to Miss First-Quarter Revenue Estimates
Affymetrix’s latest estimate indicates a 20% increase in first-quarter revenues from a year ago. According to FactSet, analysts had projected first-quarter revenues to be $83.3 million on average. Last year, Affymetrix missed analysts’ third-quarter revenue estimates (see IBO 10/15/12).
Santa Clara, CA 4/9/13—Affymetrix has announced that it expects first-quarter revenues of $78 million, including eBioscience revenue of $19 million. “Our revenues for the first quarter were below expectations, primarily due to continued headwinds in our gene expression business across all regions, in particular Japan, where we came in significantly short of plan,” stated Affymetrix President and CEO Frank Witney. The company also stated that genotyping and cytogenetics sales showed solid growth and that eBioscience sales growth was modest. As of the end of March, the company has cash on hand of $38 million.

