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Affy Reports $85M in Preliminary Q4 Revenues

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Affymetrix today reported $85 million in preliminary revenue for the fourth quarter — a 6 percent increase over $78.6 million in the fourth quarter of 2009.

The company said that its anticipated fourth-quarter 2010 revenue includes a $4.8 million milestone payment from an undisclosed diagnostic partner.

Affy said that it expects to report positive operating income and net income on a GAAP basis for the fourth quarter of 2010, but did not provide additional details.

The company also said that it has repurchased $53 million in 3.5 percent convertible notes. It repurchased more than $150 million of the notes in 2010 and now has about $95 million in outstanding convertible debt.

Affymetrix said it expects to have a year-end net cash balance of around $140 million.

The company plans to report its complete financial results for the fourth quarter and full year on Feb. 2.

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