Affymetrix, Inc. (AFFX) Tops Q2 EPS by 4c

Affymetrix, Inc. (NASDAQ: AFFX) reported Q2 EPS of $0.07, $0.04 better than the analyst estimate of $0.03. Revenue for the quarter came in at $85.4 million versus the consensus estimate of $83.3 million.

“This is our fourth consecutive quarter of year-over-year revenue growth as we continue to execute on our strategic objectives,” stated Frank Witney, President and CEO. “For the first half of 2014 we saw consistent performance across the business and strong growth in our Genetic Analysis business unit. Accordingly we are raising our full-year guidance to total revenue of $340 million and EBITDAO in the range of 14% to 15% of revenue.”

"Since this time last year we have prepaid $42 million of our Senior Debt while increasing our overall balance of cash-on-hand," stated Gavin Wood, EVP and CFO. "We have now reduced our outstanding debt to $25 million, achieving our year-end debt target six months ahead of schedule."

For earnings history and earnings-related data on Affymetrix, Inc. (AFFX) click here.

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