Affymetrix, Inc., (NASDAQ: AFFX) today reported its operating results for the three and twelve months ended December 31, 2012.
Results for the three months ended December 31, 2012:
- Total revenue was $84.4 million, which excluding eBioscience of $18.1 million, represented a 2% increase from the fourth quarter of 2011.
- GAAP net loss was $12.3 million, or $0.17 per diluted share, as compared to a net loss of $14.7 million, or $0.21 per diluted share, in the fourth quarter of 2011.
- Non-GAAP net loss was $1.3 million, or $0.02 per diluted share, as compared to a net loss of $8.3 million, or $0.12 per diluted share, for the fourth quarter of 2011. Please refer to the “Itemized Reconciliation Between GAAP and Non-GAAP Net Loss” for a reconciliation of these GAAP and non-GAAP financial measures.
- Positive cash flow from operations of $2.0 million and a total balance in cash, cash equivalents and available-for-sale securities of $35.7 million at the end of December 31, 2012, after debt payments of $9.6 million during the quarter.
Product revenue for the fourth quarter of 2012 was $76.4 million and service and other revenue was $8.0 million. This compares to product revenue of $58.7 million and service and other revenue of $6.4 million in the fourth quarter of 2011. Product revenue for the fourth quarter of 2012 included Affymetrix core consumable revenue of $53.1 million, instrument revenue of $5.2 million and revenue from eBioscience of $18.1 million. Product revenue for the fourth quarter of 2011 included Affymetrix core consumable revenue of $54.9 million and instrument revenue of $3.8 million.
Total gross margin was 54%, as compared to 53% in the same period of 2011. Excluding non-GAAP adjustments such as the amortization of step-up in inventory fair value, total margin was 61% in 2012, as compared to 54% in 2011. Please refer to the “Itemized Reconciliation Between GAAP and Non-GAAP Gross Margin” for a reconciliation of these GAAP and non-GAAP financial measures.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV