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Affymetrix Reports Preliminary Q4 Revenues of $91M; Beats Expectations

NEW YORK (GenomeWeb News) – Affymetrix today reported preliminary revenues of approximately $91 million for the fourth quarter of 2013, which would beat the consensus analyst estimate of $82.6 million.

The preliminary figure for the quarter would be an 8 percent increase over the $84.3 million the Santa Clara, Calif.-based firm posted in revenues for the fourth quarter of 2012 and includes a one-time licensing payment of $5.3 million from an unnamed diagnostic partner.

Affymetrix said that total revenues for full-year 2013 are expected to be around $329 million, which would be above the average analyst estimate of $320.3 million and an 11 percent improvement from $295.6 million in full-year 2012.

"In 2013 we executed effectively against our three-phase strategic plan and we exited the year as a much stronger company," Affymetrix President and CEO Frank Witney said in a statement. "Over the last 12 months we improved our business’s performance, significantly reduced our senior debt, and increased our overall cash balance."

In morning trading today, shares of Affymetrix on the Nasdaq were up 8 percent at $8.50.