Affymetrix (AFFX) Sees Q3 Revs Below Consensus; Cites Cut Academic Funding
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Price: $14.01 --0%
Financial Fact:
Income tax provision: -260K
Today's EPS Names:
EDXC, BICX, FBPI, More
Financial Fact:
Income tax provision: -260K
Today's EPS Names:
EDXC, BICX, FBPI, More
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Affymetrix, Inc. (Nasdaq: AFFX) reported that based on preliminary financial data, the Company expects total revenue of approximately $80 million for the third quarter of 2012, with revenue of approximately $18 million from the eBioscience business. The Company expects to report cash-on-hand of approximately $39.6 million as of September 30, 2012, after a $3.5 million interest and principal payment on the Company’s senior debt.
The Street is currently sees revs of $84.6 million.
The Company believes that total revenue for the third quarter was negatively impacted by a tightening academic funding environment worldwide, primarily affecting its gene expression and eBioscience business units.
The Street is currently sees revs of $84.6 million.
The Company believes that total revenue for the third quarter was negatively impacted by a tightening academic funding environment worldwide, primarily affecting its gene expression and eBioscience business units.
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