NEW YORK (GenomeWeb News) —Affymetrix today said fourth-quarter revenues decreased 6.5 percent as R&D spending remained flat and profit plummeted 72 percent.
Total receipts for the three months ended Dec. 31, 2006, decreased to $104.2 million from $111.4 million year over year.
Product and product-related revenue decreased 9.5 percent to $95 million; royalties and "other" revenue increased 115 percent to $6.6 million; and receipts from Perlegen slid 5.5 percent to $2.6 million.
R&D spending was flat at $19.6 million.
The company said profit declined to $8.7 million from $30.6 million in the year-ago period.
Affy said it had around $119 million in cash and equivalents and $118 million in short-term investments as of Dec. 31.