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Affymetrix Q3 Revenues, Income Rise

NEW YORK, Oct. 22 (GenomeWeb News) - Affymetrix reported revenues of $76.2 million for the third quarter today, up from $ 72.7 million for the same period last year.

These revenues included $71.1 million in product revenue, compared to $62.9 million for the third quarter of 2002.

The company’s net income rose with revenues, to $5.8 million for the quarter, compared to $0.6 million for the same period last year. This is the third consecutive quarter of profitability for the Santa Clara, Calif. microarray company.

For the quarter, R&D expenses remained nearly flat, at $16.5 million, compared to $16.7 million in the same period last year.

As of Sept. 30, Affymetrix had $50.4 million in cash and cash equivalents.

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