Well, those guys were dead on:
>>SANTA CLARA, Calif., April 3 /PRNewswire-FirstCall/ -- Affymetrix, Inc. (Nasdaq: AFFX - News), today reported that based on preliminary financial data, the company expects product and related revenue as well as net income for the first quarter of 2003 to be lower than previous guidance.
"After posting record revenues for fiscal year 2002, our rate of growth has been affected by global economic weakness and cautious capital spending," said Greg Schiffman, Affymetrix' senior vice president and chief financial officer. "While academic array revenue growth remained strong, capital spending in the academic and biotech sectors has slowed."
Affymetrix now expects product and related revenue for the first quarter of 2003 to be in the range of $60-62 million, compared to previous guidance of $71-73 million. The company will release first quarter operating results after the close of the market on April 23, 2003. Company management will conduct its quarterly conference call and provide financial guidance at 2:00 p.m. Pacific Time on that date.<<
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Cheers, Tuck |
