Affymetrix Back in Black for Second Quarter

Affymetrix today reported net income of $5.2 million on revenues of $68.6 million for the second quarter ending June 30, compared to a loss of $1.6 million on revenues of $71 million for the second quarter 2002 and a turnaround from its first quarter net loss of $12.7 million on revenues of $67 million.

The company attributed the gains to record instrument revenue of $15.6 million on top of revenues of $30 million from sales of its GeneChip brand arrays. Wafer sales to Perlegen Sciences accounted for $2.8 million, compared to $5.6 million for the same period a year ago.

Affymetrix reported R&D expenses of $16.6 million for the quarter, compared to $17.3 million for the year-ago quarter.

The company reported cash and cash equivalents of $37 million on June 30, compared to $68 million on Dec. 31, 2002.