Despite posting a double-digit drop in first-quarter revenues, Affymetrix executives said last week that they are "optimistic" about the firm's future, pointing to growth in demand for genotyping arrays.

Affy reported last week that revenues for the three months ended March 31 dropped 12 percent to $65.2 million from $73.7 million a year ago. Much of the falloff was attributable to a "precipitous" decline in expression array sales, which plummeted 20 percent year over year as researchers continue to transition to next-generation sequencing.

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