Revenues for the year were up just 4.5% from 2006, but cost-cutting measures, such as moving manufacturing to its Singapore plant, helped boost the bottom line considerably. Earnings per share for the year came in at $0.17, compared to a $0.20 loss in 2006. The Rule Breakers pick has certainly had a nice turnaround.
For this year, the gene chip maker expects revenues to jump 12%-17%, excluding the income from its settlement with Illumina
Last week, Affymetrix announced that Laboratory Corporation of America
Affymetrix also announced a partnership with Clinical Data
I think it's safe to expect further expansion in the form of acquisitions from Affymetrix; after all, it has only used a fraction of the proceeds from its recent convertible notes offering. Continued expansion into diagnostics and clinical services should help the company diversify and avoid another year like 2006.