AFFX warns and is down almost 10% after hours. Methinks a buying opportunity, as the problem is already mostly fixed.
>>SANTA CLARA, Calif.--(BUSINESS WIRE)--Sept. 27, 2005--Affymetrix, Inc., (Nasdaq:AFFX - News) today announced that due to low initial-production yields of its most advanced commercial product, the 500K Mapping Array Set, shipment volumes have been constrained. Based on preliminary financial data, the Company expects that for the third quarter ending September 30, 2005, its product and product related revenue will be $10-12 million below previous guidance.
"During the third quarter, we experienced unusually low manufacturing yields on our new 500K Mapping Array Set," stated Stephen P.A. Fodor, Ph.D. Founder, Chairman and CEO of Affymetrix. "While we have recently seen improving yields, these improvements occurred late in the quarter and we now project that we will be unable to manufacture enough product to meet our revenue target."
Investors may listen to Affymetrix' management expand on this announcement and its financial implications by dialing domestic: 800-299-0148, international: 617-801-9711 on September 27, 2005 from 2:00-3:00 p.m. PT. A replay of this call will be available from 4:00 p.m. PT on September 27, 2005 until 5:00 p.m. PT on October 4, 2005 at the following numbers: domestic: 888-286-8010 international: 617-801-6888. The passcode for both is 43009590. A live webcast of the conference call can be accessed by visiting the Investor Relations section of the Company's website at www.affymetrix.com.
Affymetrix' management team will host a conference call on October 20, 2005 at 2:00 p.m. PT to review its operating results for the third quarter of 2005 and to provide financial guidance for the fourth quarter and full-year 2005. A live webcast can be accessed by visiting the Investor Relations section of the Company's website at www.affymetrix.com. In addition, investors and other interested parties can listen by dialing domestic: (800) 399-7505, international: (706) 643-3963. A replay of this call will be available from 5:00 p.m. PT on October 20, 2005 until 5:00 p.m. PT on October 27, 2005 at the following numbers: domestic: (800) 642-1687; international: (706) 645-9291. The passcode for both is 9918940. An archived webcast of the conference call will be available under the Investor Relations section of the Company's website at www.affymetrix.com. <<
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Cheers, Tuck |
