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Affymetrix Preannounces Q4 Revenues of $93M

NEW YORK (GenomeWeb) – Affymetrix reported today that it expects to report fourth quarter 2014 revenues of approximately $93 million, which would be a fraction of 1 percent higher than the $92.6 million in revenues reported for Q4 2013.

The revenue estimate is above Wall Street expectations for Q4 revenues of $89.9 million.

For Fiscal Year 2014, the firm anticipates total revenues of approximately $348 million, up from revenues of $330.4 million reported for FY 2013. The 2014 sales represent 9 percent growth over FY 2013 after adjusting for the sale of its Anatrace business with revenues of $4.5 million and a one-time license payment of $5.3 million in 2013, Affymetrix said.

On average, analysts expected the firm to post FY 2014 revenues of $345.5 million.

"Over the last three years we successfully executed on our three-phase strategic plan, improving our operating results across the board and returning the company to growth," Frank Witney, president and CEO of Affymetrix, said in a statement. "We enter the third phase of our plan with a clear focus and strong positions in the growing markets of translational medicine, molecular diagnostics, genotyping, and single cell biology."

In early Monday trade on the Nasdaq, shares of Affymetrix were up around 3 percent at $10.68.