Affymetrix Earnings: Here’s Why Investors are Buying Shares Now
Affymetrix Inc. (NASDAQ:AFFX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.68%.
Affymetrix Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.04 in the quarter versus EPS of $-0.02 in the year-earlier quarter.
Revenue: Rose 19.67% to $79.46 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Affymetrix Inc. reported adjusted EPS income of $0.04 per share. By that measure, the company beat the mean analyst estimate of $-0.01. It beat the average revenue estimate of $78.53 million.
Quoting Management: “We were encouraged by the second quarter revenue results across all our business units as compared to the first quarter of the year, including another quarter of strong growth in our Genetic Analysis business and improved results in our Expression business,” said Frank Witney, President and CEO. “From a geographic perspective our business strengthened in both Europe and North America while Japan remained soft.”
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS increased to $0.04 in the quarter versus EPS of $-0.01 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.01 to a loss $0. For the current year, the average estimate has moved down from a profit of $0.03 to a profit of $0.01 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)