NEW YORK (GenomeWeb News) – Affymetrix reported after the close of the market Wednesday that its third-quarter revenues increased 4 percent while its net loss fell sharply.
However, its top- and bottom-line results missed analysts' consensus estimates. In early Thursday trade on the Nasdaq, Affy's shares traded down 18 percent at $7.25.
The Santa Clara, Calif.-based firm reported total revenues of $78.2 million for the three-month period ended Sept. 30, up from $75.2 million for the third quarter of 2008. Analysts, on average, had expected revenues of $80.7 million.