Affymetrix (AFFX) Tops Q4 EPS by 2c

Affymetrix (NASDAQ: AFFX) reported Q4 EPS of $0.09, $0.02 better than the analyst estimate of $0.07. Revenue for the quarter came in at $93.5 million versus the consensus estimate of $91.8 million.

"We successfully executed against our priorities for 2014, enabling us to enter Phase III of our strategic plan in a strong financial and competitive position," said Frank Witney, President and CEO. "We diversified our revenue and entered the large and growing markets of translational medicine, molecular diagnostics, and single cell biology, while also expanding our genotyping presence. Last year we generated solid top-line growth and expanded our reach into Non-Invasive Pregnancy Testing and AgBio applications."

"In addition to our strong revenue growth, we also expanded our gross margin and maintained tight control of our operating expenses. The combined effect of these actions is a substantial improvement of $14.9 million in our Non-GAAP net income over 2013, representing an EPS increase of $0.20 per diluted share on a Non-GAAP basis,” stated Gavin Wood, EVP and CFO. "We also reduced our outstanding senior debt to $23 million and exited the year with cash-on-hand of $80 million."

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

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