Tag Archives: Frank Witney

Business, Finance, Occupation & Industry

Affymetrix Announces Preliminary Revenue for First Quarter 2013

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Affymetrix Announces Preliminary Revenue for First Quarter 2013

SANTA CLARA, Calif.–(BUSINESS WIRE)– Affymetrix, Inc. (NAS: AFFX) today reported that based on preliminary financial data, the Company expects total revenue of approximately $78 million for the first quarter of 2013, including revenue of approximately $19 million from eBioscience. The Company expects to report cash-on-hand of at least $38 million as of March 31, 2013.

“Our revenues for the first quarter were below expectations, primarily due to continued headwinds in our gene expression business across all regions, in particular Japan, where we came in significantly short of plan,” said Frank Witney, president and CEO. “Our genotyping and cytogenetics product lines generated solid growth for the quarter as compared to 2012 and eBioscience also had modest growth from the first quarter of last year. As reported earlier, we ended the quarter with a major win, securing the largest biobank genotyping study to date.”

“Cash-on-hand at the end of March was approximately $38 million, after redeeming the remaining $3.9 million of our 3.5% convertible notes and prepaying $3.2 million of our senior-secured debt,” said Tim Barabe, EVP and chief financial officer. “Our senior secured debt is now at $70 million and debt repayment continues to be one of our priorities in 2013.”

The Company will provide a more detailed business update and complete financial information when it reports its first quarter results after the close of the market on Tuesday, April 30, 2013. The Company is currently observing a pre-earnings quiet period and will not make further comments about its first quarter results in the interim.

Affymetrix’s management team will host a conference call on April 30, 2013 at 2:00 p.m. PT. A live webcast can be accessed by visiting the Investor Relations section of the Company’s website at http://www.affymetrix.com. In addition, investors and other interested parties can listen by dialing domestic: (877) 407-8291, international: (201) 689-8345.

A replay of this call will be available from 5:00 p.m. PT on April 30, 2013 until 8:00 p.m. PT on May 7, 2013 at the following numbers: domestic: (877) 660-6853, international: (201) 612-7415. The conference call passcode to access the replay is 411930. An archived webcast of the conference call will be available under the Investor Relations section of the Company’s website.

About Affymetrix

Affymetrix’s technologies are used by the world’s top pharmaceutical, diagnostic, and biotechnology companies, as well as leading academic, government, and non-profit research institutes. More than 2,300 …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Affymetrix Signs Contract With UK Biobank to Genotype 500,000 UK Individuals in the Largest Ever Stu

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Affymetrix Signs Contract With UK Biobank to Genotype 500,000 UK Individuals in the Largest Ever Study of Genetic and Environmental Factors in Disease and Personalized Medicine

SANTA CLARA, Calif.–(BUSINESS WIRE)– Affymetrix, Inc. (NAS: AFFX) today announced that it has signed a contract with UK Biobank to genotype 500,000 DNA samples donated by UK residents as part of a prospective epidemiological study of complex diseases that are of great relevance to public health. Affymetrix’ Axiom® Genotyping Solution will be used to generate billions of high-quality genotypes which will provide UK Biobank and the research community with valuable insight to genetic factors underlying human diseases for improved prevention, diagnosis, and treatment of conditions such as heart disease, cancer, and diabetes.

Professor Rory Collins, UK Biobank CEO and Principal Investigator said: “UK Biobank is pleased to join forces with Affymetrix for this next phase of the UK Biobank project. The two organizations will work closely together to ensure that world class data are provided quickly and securely to help scientists working on the causes of a wide range of life-threatening and disabling diseases. I urge health scientists everywhere to think carefully about how this resource could be used to help their research, and to register with UK Biobank. I am also very grateful to the half a million participants whose generosity and vision for the future has allowed this resource to grow.”

“We are honored to partner with UK Biobank on this mission critical research initiative,” said Dr. Frank Witney, President and CEO of Affymetrix. “Earlier this year, we outlined our strategy to broaden our reach into the translational medicine, molecular diagnostics, and applied markets as part of our long-term transformation plan. This partnership reflects our efforts to strengthen our position in the growing translational medicine market and our commitment to work with visionary organizations such as the UK Biobank to produce the next generation of biological information that will improve healthcare.”

“Large scale genotyping studies such as the one undertaken by UK Biobank demand a flexible and scalable genomics analysis technology that produces a large amount of high quality data quickly, consistently, and cost-effectively. The unmatched flexibility, array reproducibility, and advanced design capabilities were key factors in UK Biobank adopting the Axiom Genotyping Solution. These platform capabilities have become increasingly important for genotyping studies in both the human and agbio markets as requirements shift away from very high-density, standardized designs toward customized high-fidelity arrays. We are very proud that our Axiom Genotyping Solution has been chosen for this incredibly important project,” said Dr. Andy …read more
Source: FULL ARTICLE at DailyFinance