Affymetrix Warns on Third-Quarter Sales
Analysts had expected third-quarter revenues of $84.6 million, according to Reuters. Excluding the eBioscience acquisition (see IBO 6/30/12), which closed in June, third-quarter revenues are expected to decline 3%. Affymetrix stock fell 13.9% the day of the announcement, trading at its lowest level since April 2009.
Santa Clara, CA 10/8/12—Affymetrix has announced that it expects third-quarter revenues of $80 million, including eBioscience sales of $18 million, based on preliminary financial data. “Based on ongoing concerns about global academic funding as well as a weaker euro, we now believe that total revenue for Affymetrix excluding eBioscience will be flat to slightly down for 2012 relative to the prior year,” stated Affymetrix President and CEO Frank Witney. “We continue to believe that the Affymetrix business is stabilizing, with double-digit revenue growth for the quarter in our cytogenetics and genotyping product lines, as compared to the third-quarter 2011. However, our gene expression and eBioscience business segments were weaker than expected in the quarter.” The company’s quarterly results will be released on October 31.

