Genetic-testing technology company
reported third-quarter results that boosted the stock 10% in after-hours trading Wednesday.
Revenue surpassed estimates, reaching $84.7 million in the quarter, with $4.6 million from the sale of its products to genomics company
. In the third quarter of 2005, the company reported revenue of $83.4 million, with $2.2 million from the sale of its products to Perlegen. Analysts were expecting sales of $80.9 million.
Within its GeneChip business, which brought in $59.8 million in revenue, sales of reagents were $10.1 million, arrays brought in $37.4 million, genotyping services revenue was $7.7 million, and instrument revenue reached $8.6 million.
Affymetrix shipped 33 of its GeneChip systems in the quarter, increasing the total systems shipped to roughly 1,480, the company said in its quarterly earnings release. Royalties and other revenue were $6 million.
The company reported a loss of $14.2 million, or 21 cents a share, for the quarter. This includes a restructuring charge of $10 million, or 15 cents a share, and a stock-based compensation expense of $3.6 million, or 5 cents a share.
Excluding the charge, Affymetrix would have lost 6 cents, 2 cents better than analysts expected. In the third quarter of 2005, the company posted earnings of $9.4 million, or 14 cents a share.
Shares were up 10.3% to $25 in late trading Wednesday.