The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Affymetrix met expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP loss per share expanded.
Margins dropped across the board.
Affymetrix reported revenue of $79.6 million. The nine analysts polled by S&P Capital IQ anticipated revenue of $80.2 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $64.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.03. The 14 earnings estimates compiled by S&P Capital IQ averaged -$0.04 per share. GAAP EPS were -$0.25 for Q3 against -$0.14 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 52.4%, 440 basis points worse than the prior-year quarter. Operating margin was -14.0%, 480 basis points worse than the prior-year quarter. Net margin was -22.4%, 710 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $84.9 million. On the bottom line, the average EPS estimate is -$0.03.
Next year's average estimate for revenue is $296.5 million. The average EPS estimate is -$0.13.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 349 members out of 413 rating the stock outperform, and 64 members rating it underperform. Among 107 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 92 give Affymetrix a green thumbs-up, and 15 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Affymetrix is hold, with an average price target of $5.49.
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