On Feb. 7, biotech company Affymetrix (NASDAQ:AFFX) released fourth-quarter earnings for the period ended Dec. 31.
- Revenues were down by 6.5%, primarily because of a 15% decrease in product sales.
- Gross margins were significantly affected by forward pricing of the company's two-chip 500K mapping product.
- EPS was down by 70% on the drop in sales and falling margins.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change | |
|---|---|---|---|
|
Sales |
$104.2 |
$111.5 |
(6.5%) |
|
Net Profit |
$8.7 |
$30.6 |
(71.6%) |
|
EPS |
$0.13 |
$0.43 |
(69.8%) |
|
Diluted Shares |
71.9 |
72.3 |
(0.5%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2006 |
Q4 2005 |
Change* | |
|---|---|---|---|
|
Gross Margin |
62.0% |
71.8% |
(9.8) |
|
Operating Margin |
10.1% |
19.5% |
(9.4) |
|
Net Margin |
8.3% |
27.5% |
(19.1) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$237.2 |
$284.9 |
(16.8%) |
|
Accounts Rec |
$77.8 |
$97.1 |
(19.8%) |
|
Inventory |
$46.5 |
$36.0 |
29.3% |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$62.9 |
$71.6 |
(12.1%) |
|
Long-Term Debt |
$120.0 |
$120.0 |
0.0% |
Learn the ways of the balance sheet.
Cash Flow Highlights
A statement of cash flows was not provided.
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Related Companies:
- Bio-Rad Laboratories (AMEX:BIO)
- PDL Biopharma (NASDAQ:PDLI)
- Illumina (NASDAQ:ILMN)
- Human Genome Sciences (NASDAQ:HGSI)
- Myriad Genetics (NASDAQ:MYGN)
Related Foolishness:
Affymetrix, PDL Biopharma, and Myriad Genetics are all Motley Fool Rule Breakers recommendations. To see why, you can take a 30-day free trial of our growth-stock service.
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