Affymetrix reports third-quarter net loss of $14.2 million

By Lisa Kerner

Charlotte, N.C., Oct. 25 - Affymetrix, Inc. said on a GAAP basis, it had a net loss of approximately $14.2 million, or $0.21 per diluted share, for the third quarter, compared with net income of $9.4 million, or $0.14 per diluted share, for the third quarter of 2005.

The company had $66.5 million of cash and cash equivalents at Sept. 30, compared with $100.2 million at Dec. 31, 2005.

Total revenue for the quarter was up slightly at $84.7 million, from total revenue of $83.4 million for the prior-year period.

For the third quarter, product and product-related revenue decreased to $74.1 million from $79.5 million for the third quarter of 2005.

GeneChip consumable revenue was $59.8 million, while instrument revenue was $8.6 million. Affymetrix shipped 33 GeneChip Systems in the quarter, increasing the cumulative systems shipped to about 1,480.

Total operating costs and expenses were $101.6 million for the third quarter, up from the $75.1 million reported for the same period of 2005.

Research and development expenses rose to $21.6 million for the quarter from $19.8 million for the year-ago period.

Affymetrix is a medical technology company located in Santa Clara, Calif.

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