The 10-second takeaway
For the quarter ended March 31 (Q1), Affymetrix met expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP loss per share dropped. GAAP loss per share increased.
Margins dropped across the board.
Affymetrix booked revenue of $77.9 million. The eight analysts polled by S&P Capital IQ predicted revenue of $78.0 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $65.2 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 -$0.01. The 12 earnings estimates compiled by S&P Capital IQ anticipated -$0.02 per share. Non-GAAP EPS were -$0.01 for Q1 versus -$0.04 per share for the prior-year quarter. GAAP EPS were -$0.22 for Q1 versus -$0.06 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 51.3%, 680 basis points worse than the prior-year quarter. Operating margin was -9.4%, 430 basis points worse than the prior-year quarter. Net margin was -19.8%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $78.5 million. On the bottom line, the average EPS estimate is $0.00.
Next year's average estimate for revenue is $317.9 million. The average EPS estimate is $0.01.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 342 members out of 406 rating the stock outperform, and 64 members rating it underperform. Among 102 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 88 give Affymetrix a green thumbs-up, and 14 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 $4.94.
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