Affymetrix Profit Is Light

The company earns 12 cents a share in the second quarter.
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Biotech toolmaker

Affymetrix

(AFFX)

tanked after hours as an 11% jump in second-quarter earnings and a weak outlook left investors cold.

The company earned $7.8 million, or 12 cents a share, in the quarter, compared with $7 million, or 11 cents a share, last year. Sales were up 5% from a year ago to $84.1 million. Analysts were forecasting earnings of 17 cents a share on sales of $88.1 million.

Affymetrix expects to report a loss of 6 cents a share in the third quarter, including 27 cents of charges, on sales of $95 million. Analysts were looking for 29 cents a share on sales of $101.7 million.

For the year, the company sees earnings of 77 cents a share, including charges of 31 cents a share, on sales of $405 million. Analysts were forecasting earnings of $1.16 a share on sales of $405.9 million.