Skip to main content
Premium Trial:

Request an Annual Quote

Analyst Downgrades Affymetrix Despite 13-Percent Q1 Revenue Increase

NEW YORK, April 22 (GenomeWeb News) - An analyst at Robert W. Baird downgraded Affymetrix's stock this morning to "neutral" from "outperform," causing shares in the microarray company to fall 6 percent in early-morning trading.

 

The stock recovered some of the slide, trading down 2.46, or $1.13, at $44.88 in heavy volume in the mid-afternoon.

 

As GenomeWeb News reported, Affymetrix yesterday said first-quarter revenue grew 13 percent as a net loss turned into a profit.

Total receipts for the three months ended March 31 increased to $88.6 million from $78.6 million year over year.

R&D spending at the Santa Clara, Calif.-based microarray seller slid 1 percent to $17.1 million from $17.3 in the year-ago quarter.

As a result, net income for the quarter was $16.2 million, or $.26 per basic share, compared to a net loss of $1.8 million, or $.03 per basic share, in the year-ago quarter.

Affymetrix reaffirmed that it expects to generate around $390 million in product-related revenue in 2005 and said second-quarter receipts should come in at around $87 million, a 9-percent increase over the same period in 2004.

Affymetrix had $63 million cash and cash equivalents on hand as of March 31.

The Scan

Could Mix It Up

The US Food and Drug Administration is considering a plan that would allow for the mixing-and-matching of SARS-CoV-2 vaccines and boosters, the New York Times says.

Closest to the Dog

New Scientist reports that extinct Japanese wolf appears to be the closest known wild relative of dogs.

Offer to Come Back

The Knoxville News Sentinel reports that the University of Tennessee is offering Anming Hu, a professor who was acquitted of charges that he hid ties to China, his position back.

PNAS Papers on Myeloid Differentiation MicroRNAs, Urinary Exosomes, Maize Domestication

In PNAS this week: role of microRNAs in myeloid differentiation, exosomes in urine, and more.