Affymetrix Rises as it Beats Loss Estimates

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Affymetrix (AFFX) was up 8.2% in preopen Instinet trading. The company late Wednesday posted a second-quarter loss of 8 cents a share, narrower than the lowered consensus estimate of 13 cents and the year-ago period's 11 cents. Revenue for the quarter rose to $49.5 million from $45.4 million in the same period a year ago.

The company, a maker of chips for biotechnology and pharmaceutical research, said sales of its core GeneChip line rose 18% compared to the year-ago quarter, The company said the worst effects of the market's weakness appear to be over.