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Affy Shares Slide on Q4 Profit Decline, Q1 Outlook; Bank Downgrades Stock

NEW YORK, Jan. 27 (GenomeWeb News) - Affymetrix shares were down 6.97 percent, or $2.78, at $37.35 in afternoon trading after the company posted an 8.2-percent decline in fourth-quarter profits.

 

As GenomeWeb News reported, Affy's fourth-quarter profit fell to $24.8 million, or $0.35 per share, from $27.1 million, or $0.41 per share, during the fourth quarter of 2004.

 

The company also projected product and product-related revenue of $87 million for the first quarter of 2006, and total revenue of about $91 million, a 3-percent increase of total revenues for the first quarter of 2005.

 

Separately today Caris & Company downgraded the company to "average."

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