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Affymetrix Sees Revenues Rise in Q3

SAN FRANCISCO, Oct. 23 - Affymetrix today reported increased revenue for the third quarter of 2002.

 

The company said its total revenue was $72.8 million in the third quarter which ended September 30, up from $55.4 million in the same quarter of 2001. Increased shipments of its GeneChip array and instrument placements accounted for the rise, according to the company. Wafer sales to Perlegen, made at cost, accounted for $4.9 million of revenue.

 

R&D spending stayed approximately flat at $16.7 million compared to the same period a year ago, and the company registered a net income gain of $619,000, or $.01 per basic and diluted share, in the third quarter 2002 compared to a net loss of $4.8 million, or $.08 per share, in the year-ago period.

 

Affy also reported $158.8 million in cash and cash equivalents at the end of September 2002.

 

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