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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (70)	10/24/2000 4:57:33 PM
From: 2MAR$	Respond to of 6445

Affymetrix breaks even in third quarter LOS ANGELES, Oct 24 (Reuters) - Genetic technology company Affymetrix Inc. (NasdaqNM:AFFX - news) said on Tuesday it posted break-even results for the third quarter amid an 89-percent increase in product sales. The Santa Clara, Calif.-based company reported a third-quarter profit of $0.3 million, or zero cents per diluted share, compared with a net loss of $5.8 million, or 10 cents a share, in the comparable 1999 period. Without the share dilution, Affymetrix said it posted a 1-cent-per-share profit. Analysts on average had expected Affymetrix to lose 2 cents a share, according to First Call/Thomson Financial, which tracks earnings estimates. The company said its third-quarter product revenues increased 89 percent to $55.8 million from $29.5 million in the year-earlier quarter on strong sales of its GeneChip probe arrays, increased placements of instruments and subscription fees for access to the company's proprietary technology. Affymetrix said its total costs and expenses rose to $57.7 million from $36.0 million in the comparable 1999 period due mostly to expansion of commercial activities and increased legal costs arising from ongoing patent litigation.