Affymetrix Updates Revenue Outlook for Fourth Quarter; Year-end Instrument Sales Below Company Expectations
January 05 2006 - 4:00PM
Business Wire
Affymetrix, Inc., (Nasdaq:AFFX) today announced that due to low
fourth quarter instrument sales and delays in completing genotyping
processing under a services contract, the Company now expects,
based on preliminary financial data, that product and product
related revenue for the fourth quarter ending December 31, 2005,
will be roughly $15 million below previous guidance. "Affymetrix is
experiencing growing pains as it both innovates and commercializes
new products in high potential markets. Introduced about 2 years
ago, our DNA analysis business has grown to around $90 million in
fiscal 2005," stated Stephen P.A. Fodor, Ph.D., Founder, Chairman
and CEO of Affymetrix. "We are carrying record orders into 2006 and
expect to achieve around 15% top-line growth for the full-year."
Investors may listen to Affymetrix' management expand on this
announcement and its financial implications by dialing domestic:
(866) 500-AFFX, international: (706) 643-2771 on January 5, 2006
from 2:00 - 3:00 p.m. PT. A replay of this call will be available
from 5:00 p.m. PT on January 5, 2006 until 8:00 p.m. PT on January
12, 2006 at the following numbers: domestic: (800) 642-1687,
international: (706) 645-9291. The passcode for both is 3975839. A
live and archived webcast of the conference call can be accessed by
visiting the Investor Relations section of the Company's website at
www.affymetrix.com. Affymetrix' management team will host a
conference call on January 26, 2006 at 2:00 p.m. PT to review its
operating results for the fourth quarter and fiscal-year 2005 and
to provide financial guidance for the first quarter and full-year
2006. 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: (866) 500-AFFX, international: (706) 643-2771. A
replay of this call will be available from 5:00 p.m. PT on January
26, 2006 until 8:00 p.m. PT on February 2, 2006 at the following
numbers: domestic: (800) 642-1687, international: (706) 645-9291.
The passcode for both is 3859939. 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 scientists invented the world's first
high-density microarray in 1989 and began selling the first
commercial microarray in 1994. Since then, Affymetrix GeneChip(R)
technology has become the industry standard in molecular biology
research. Affymetrix technology is used by the world's top
pharmaceutical, diagnostic and biotechnology companies as well as
leading academic, government and not-for-profit research
institutes. More than 1,300 systems have been installed around the
world and nearly 3,000 peer-reviewed papers have been published
using the technology. Affymetrix' patented photolithographic
manufacturing process provides the most information capacity
available today on an array, enabling researchers to use a
whole-genome approach to analyzing the relationship between
genetics and health. Affymetrix is headquartered in Santa Clara,
Calif., with manufacturing facilities in Sacramento, Calif., and
Bedford, Mass. The company maintains important sales and marketing
operations in Europe and Asia and has about 1,000 employees
worldwide. For more information about Affymetrix, please visit the
company's website at www.affymetrix.com. 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'
"expectations," "beliefs," "hopes," "intentions," "strategies," or
the like. Such statements, including Affymetrix' expectations for
its fourth quarter and year end 2005 results and expectations for
top-line growth in 2006, are subject to risks and uncertainties
that could cause actual results to differ materially for Affymetrix
from those projected, including, but not limited to: the
preparation of financial statements for the fourth quarter and
full-year 2005; risks related to the Company's ability to achieve
hoped-for manufacturing yields for the 500K Mapping Array Set and
other products, including the ability to identify and resolve
manufacturing problems; risks of the Company's ability to achieve
and sustain higher levels of revenue, higher gross margins, reduced
operating expenses, market acceptance and personnel retention;
global economic conditions; the fluctuations in overall capital
spending in the academic and biotechnology sectors; changes in
government funding policies; unpredictable fluctuations in
quarterly revenues; uncertainties related 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; risks relating to
intellectual property of others; and the uncertainties of patent
protection and litigation. These and other risk factors are
discussed in Affymetrix' Form 10-K for the year ended December 31,
2004 and other SEC reports, including its Quarterly Reports on Form
10-Q for subsequent quarterly periods. 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' expectations with
regard thereto or any change in events, conditions, or
circumstances on which any such statements are based. NOTE:
Affymetrix, the Affymetrix logo, Powered by Affymetrix, and
GeneChip are trademarks owned or used by Affymetrix, Inc.
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