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Affymetrix Q1 Revenues Jump, Net Loss Narrows

NEW YORK, April 21 (GenomeWeb News) - Affymetrix today reported an increase in revenues and a dramatic narrowing of its net loss compared to the year ago quarter.

 

The market leader in the mass production of microarrays, Affymetrix reported total revenues of $79 million for the quarter that ended March 31, compared to total revenues of $67 million for the year-ago quarter.

 

The company had a net loss of $1.9 million for the quarter, compared to a loss of $12.7 million for its first quarter of 2003. The loss included a charge of $8.1 million associated with the company's redemption of a set of 4.75 and 5.0 percent convertible subordinated notes.

 

The company reported research and development expenses of $17 million, compared to $16 million for the same quarter in 2003.

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