— Affymetrix Announces Preliminary Fourth Quarter 2013 Revenue of Approximately $91 Million —
January 07 2014 - 6:00AM
Business Wire
Affymetrix, Inc., (NASDAQ: AFFX) today announced that based on
preliminary, unaudited financial data, the Company expects total
revenue for the fourth quarter of 2013 will be approximately $91
million, including a one-time licensing payment of $5.3 million
from a diagnostic partner. For fiscal 2013, the Company expects
total revenue of approximately $329 million.
“In 2013 we executed effectively against our three phase
strategic plan and we exited the year as a much stronger Company,”
said Dr. Frank Witney, president and chief executive officer. “Over
the last 12 months we improved our business’s performance,
significantly reduced our senior debt and increased our overall
cash balance.”
This information is being released in advance of the 32nd Annual
JP Morgan Healthcare Conference in San Francisco, California. The
company will present on January 16, 2014. The live webcast is
scheduled to begin at 8:00 AM Pacific Time and will feature a
presentation by Dr. Witney.
Additionally, Affymetrix’s management team will host a
conference call on Wednesday February 5, 2014 at 2:00 p.m. PT. A
live webcast can be accessed by visiting the Investor Relations
section of the Company's website at www.affymetrix.com. In
addition, investors and other interested parties can listen by
dialing domestic: (877) 407-4812, international: (201)
689-8345.
A replay of this call will be available from 5:00pm PT on
Wednesday February 5, 2014 until 8:00pm PT on February 12, 2014 at
the following numbers: 877-660-6853 (domestic), 201-612-7415
(international). The pass code to access the conference call is
13574000. An archived webcast of the conference call will be
available under the investor relations section of the company's
website at www.affymetrix.com.
About Affymetrix
Affymetrix technology is used by the world's top pharmaceutical,
diagnostic, and biotechnology companies, as well as leading
academic, government, and nonprofit research institutes. More than
2,300 systems have been shipped around the world and more than
48,000 peer-reviewed papers have been published using the
technology. Affymetrix is headquartered in Santa Clara, California,
and has manufacturing facilities in Cleveland, Ohio, San Diego,
California, Singapore and Vienna, Austria. The Company has about
1,100 employees worldwide and maintains sales and distribution
operations across Europe, Asia and Latin America.
Forward-Looking Statements
Affymetrix has not filed its Form 10-K for fiscal 2013. As a
result, all financial results described in this press release
should be considered preliminary, and are subject to change to
reflect any necessary corrections or adjustments, or changes in
accounting estimates, that are identified prior to the time the
company is in a position to complete these filings.
All statements in this press release that are not historical are
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act as amended, including statements
regarding Affymetrix's "expectations," "beliefs," "hopes,"
"intentions," "strategies" or the like. Such statements are subject
to risks and uncertainties that could cause actual results to
differ materially for Affymetrix from those projected, including,
but not limited to: strategic benefits and costs savings or other
synergies of the acquisition of eBioscience in a cost-effective
manner while minimizing the disruption to its business; risks that
eBioscience’s future performance may not be consistent with its
historical performance; risks relating to Affymetrix's ability to
make scheduled payments of the principal of, to pay interest on or
to refinance its indebtedness; risks relating to Affymetrix's
ability to successfully develop and commercialize new products,
including its ability to successfully develop and commercialize
novel molecular solutions based on eBioscience’s portfolio of
reagents; risks relating to past and future acquisitions, including
the ability of Affymetrix to successfully integrate such
acquisitions into its existing business; risks of Affymetrix's
ability to achieve and sustain higher levels of revenue, higher
gross margins and reduced operating expenses; risks relating to
Affymetrix’s ability to generate cash after interest and principal
payments; uncertainties relating to technological approaches; risks
associated with manufacturing and product development; personnel
retention; uncertainties relating to cost and pricing of Affymetrix
products; dependence on collaborative partners; uncertainties
relating to sole-source suppliers; uncertainties relating to FDA
and other regulatory approvals; competition; risks relating to
intellectual property of others and the uncertainties of patent
protection and litigation. These and other risk factors are
discussed in Affymetrix's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2013, and other SEC reports. Affymetrix
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Affymetrix's expectations
with regard thereto or any change in events, conditions or
circumstances on which any such statements are based.
PLEASE NOTE:
Affymetrix, the Affymetrix logo, GeneChip, and all other
trademarks are the property of Affymetrix, Inc.
Affymetrix, Inc.Doug Farrell, 408-731-5285Vice President of
Investor Relations
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