*** AFFX ($25~$31) posts sharply higher profit
Wednesday January 28, 4:31 pm ET
(Adds details throughout, 2004 outlook)
NEW YORK, Jan 28 (Reuters) - Affymetrix Inc. (NasdaqNM:AFFX - News), a maker of chips used for genetic research, said on Wednesday fourth-quarter profit rose sharply on higher sales of instruments to new customers and upgrades of older systems.
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The Santa Clara, California-based company reported net profit of $16 million, or 26 cents per share, compared with $2.9 million, or 5 cents a share, in the same period a year earlier.
Analysts on average expected earnings of 24 cents a share, according to Reuters Research, a unit of Reuters Group Plc.
Affymetrix said it expects revenue of $77 million in the first quarter of 2004, with full year total revenue of $345 million to $350 million.
Revenue for the fourth quarter rose to $89.2 million from $78.3 million a year ago.
Total costs for the quarter rose slightly to $74.2 million from $73.6 million a year ago. But research and development spending was down to $16.9 million from $18.8 million in the fourth quarter of 2002. |
