NEW YORK (GenomeWeb) - Affymetrix today reported a slight decrease year over year in its third quarter reported revenues.
For the three months ended Sept. 30, Affymetrix's total revenues dipped less than one percent to $86.5 million from $87.1 million in the prior-year period. On a constant currency basis, its revenues increased almost 4 percent year over year, and beat the average Wall Street estimate of $87.5 million.
Its product revenues inched up more than 2 percent to $80 million from $78.1 million, and included $75.7 million in consumables revenues and $4.3 million from instrument sales. Services and other revenue was $6.5 million, down 38 percent from $9 million in Q3 2014.
"We generated strong growth in our clinical and eBioscience businesses in Q3, which grew by more than 30 percent and 11 percent, respectively, the strongest organic growth for eBioscience since we completed the acquisition more than three years ago," Affymetrix CEO Frank Witney said in a statement.
The firm reported a net loss of $5.3 million, or $.07 per share, for the quarter compared to a profit of $2.4 million, or $.03 per share, in Q3 2014. On a non-GAAP basis, Affymetrix reported EPS of $.10, beating the consensus Wall Street estimate of $.08 per share.
Affymetrix's R&D spending in the quarter was flat at $13 million, while SG&A costs increased 8 percent to $36.5 million from $33.7 million. Its operating expenses also included $10 million as part of a litigation settlement with Enzo Biosciences.
Affymetrix ended the quarter with $137.6 million in cash, cash equivalents, and short term investments.
The firm reiterated its full-year guidance for mid-single digit revenue growth.