Affymetrix: “Kaufen” - 500 Beiträge pro Seite | Diskussion im Forum

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Das Biotechnologie-Unternehmen Affymetrix wird nun auch wieder von den Analysten von Merrill Lynch auf die Empfehlungliste gesetzt.

Deren Kurzfristrating liegt bei „Akkumulieren“, auf lange Sicht sollte man das Papier „Kaufen“.

Nähere Angaben zu einem Kursziel und zu meinungsbildenden Gründen wurden nicht gemacht. Interessant sind auch die Kommentare anderer Analysten...weiter...

Die Aktie gewinnt 5,75% auf 101 1/8 US-Dollar.

[humm]

To: Jon Koplik who wrote (1287)
From: TomHighsmith Thursday, Apr 20, 2000 7:16 AM ET
Reply # of 1290


Affymetrix Reports Record First Quarter Results
- Product Sales Increase 115% Over 1999 Levels -
SANTA CLARA, Calif., April 20 /PRNewswire/ -- Affymetrix, Inc., (Nasdaq: AFFX - news) today reported results for the first quarter of 2000. For the quarter ended March 31, 2000, revenue increased 104% to $40.2 million, up from revenue of $19.7 million for the quarter ended March 31, 1999. Product sales increased 115% to $36.7 million for the quarter ended March 31, 2000 up from $17.1 million in the comparable period of 1999. The increase in product sales during the first quarter of 2000 over the comparable period in 1999 was the result of increased sales of GeneChip probe arrays, increased placements of instruments (including the GeneChip® system, the 417 Arrayer(TM) and the 418 Scanner(TM)) and increased subscription fees earned under EasyAccess(TM) contracts. Other revenues, which include licensing fees, royalties and research revenue, were $3.6 million for the quarter ended March 31, 2000 compared to $2.6 million for the quarter ended March 31, 1999. The increase in other revenues was attributable primarily to the signing of additional licenses and the expansion of existing licensing arrangements.
Total costs and expenses increased to $47.9 million for the quarter ended March 31, 2000, from $27.9 million for the comparable period in 1999. Excluding the effect of one-time charges for merger related expenses associated with the acquisition of Genetic MicroSystems, Inc. (GMS), total costs and expenses were $45.5 million for the quarter ended March 31, 2000. The increase in operating expenses, excluding the one-time charges for the quarter, resulted primarily from the Company`s expansion of commercial activities including those of GMS and increased legal costs arising from ongoing patent litigation.

The Company reported a net loss attributable to Common Stockholders of $6.3 million, or $0.23 per diluted share for the quarter ended March 31, 2000, compared to a net loss attributable to Common Stockholders of $7.9 million, or $0.33 per diluted share, for the comparable period in 1999. Excluding the effect of the one-time charges associated with the acquisition of GMS, the net loss attributable to Common Stockholders was $3.9 million, or $0.14 per diluted share, for the quarter ended March 31, 2000.

The Company`s financial results may vary significantly from quarter to quarter due to fluctuations in the demand for the Company`s products, the timing of new product introductions and deliveries made during the quarter, the timing of research, license fees and royalty revenues and increases in spending, including expenses related to the Company`s ongoing lawsuits.

Affymetrix made substantial progress in the first quarter as demand for Affymetrix` GeneChip technology continued to grow in the pharmaceutical, biotechnology and academic communities. At the end of the quarter, the Company had an installed base of more than 250 GeneChip systems and more than 350 Affymetrix 417 Arrayers and 418 Scanners.

During the quarter, Affymetrix entered into an EasyAccess Silver agreement with Novartis Pharmaceuticals Corporation and numerous AcademicAccess(TM) agreements, bringing the total number of institutions participating in this program to more than 50. Most notable of these in the quarter was an agreement with AMDeC, an organization comprised of pre-eminent medical schools, academic health centers, and research institutions in the New York area.

The Company also granted a commercial use license to NEN Life Science Products to allow them to commercialize low and medium density pre-spotted DNA arrays (up to 5,000 spots/slide). This license furthers Affymetrix` strategy of enabling the commercialization of DNA array products that are complementary to its GeneChip offering.

Affymetrix also made several key announcements of strategic importance during the first quarter. Most notable was the completion of the acquisition of GMS, a privately held instrumentation company that sells scanners and ``spotted` DNA arrayers. This acquisition will allow Affymetrix to provide the scientific research community with complementary DNA array solutions integrated via a common bioinformatics platform. Also, during the quarter, Affymetrix completed the sale of $225 million of 4.75% Subordinated Convertible Notes. As a result of this financing, the Company significantly strengthened its balance sheet, which now includes approximately $439 million in cash and available-for-sale securities. The additional capital will be used to expand operations and to provide the Company with added flexibility to pursue strategic options.

Finally, in early April, Affymetrix announced that a United Kingdom court ruled that the 1999 purchase by Affymetrix of Beckman Coulter`s (BCI`s) array business was not sufficient to transfer BCI`s license to certain patents now held by Oxford Gene Technology Limited. Affymetrix believes the decision will not have an immediate impact on its business and intends to vigorously appeal the decision.

Investors may listen to Affymetrix` management discuss this announcement by dialing domestic: 800-207-3351; international: 415-908-6240; passcode - 1959 on Thursday, April 20, from 10:00-10:45 a.m. EDT. A replay of this call will be available for 24 hours, domestic: 800-633-8284; international: 858-812-6440; passcode - 14897962.

Affymetrix is a leader in developing and commercializing systems to acquire, analyze and manage complex genetic information in order to improve the quality of life. The Company`s GeneChip® system consists of disposable DNA probe arrays containing gene sequences on a chip, reagents for use with probe arrays, a scanner, and other instruments to process the probe arrays and software to analyze and manage genetic information. The Company`s spotted array system enables individual researchers to create and analyze custom microarrays on an easy-to-use, cost-efficient platform. Additional information on Affymetrix and GeneChip technology can be found at www.affymetrix.com.

All statements in this press release that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act as amended, including statements regarding Affymetrix` ``expectations,` ``beliefs,` ``hopes,` ``intentions,` ``strategies` or the like. Such statements are subject to risks and uncertainties that could cause actual results to differ materially for Affymetrix from those projected, including, but not limited to, uncertainties relating to technological approaches, product development, manufacturing, market acceptance, uncertainties related to cost and pricing of Affymetrix products, dependence on collaborative partners, uncertainties relating to sole source suppliers, uncertainties relating to FDA and other regulatory approvals, competition, risks relating to intellectual property of others and the uncertainties of patent protection and litigation. These and other risk factors are discussed in Affymetrix` Form 10-K for the year ended December 31, 1999, Form S-3 filed July 12, 1999, as amended, Form S-3 filed December 10, 1999 and Form S-4 filed October 14, 1999 as amended. Affymetrix expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Affymetrix` expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. Affymetrix, GeneChip and the Affymetrix logo are registered trademarks used by Affymetrix, Inc.

AFFYMETRIX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)

Three Months Ended
March 31,
2000 1999
Revenue:
Product $36,673 $17,094
Research 2,434 2,444
License fees and royalties 1,124 197
Total revenue 40,231 19,735

Costs and expenses:
Cost of product revenue 13,506 6,339
Research and development 12,208 10,531
Selling, general and administrative 19,751 11,062
Merger acquisition costs 2,395 --
Total costs and expenses 47,860 27,932

Loss from operations (7,629) (8,197)

Interest income, net 1,360 1,083

Net loss (6,269) (7,114)

Preferred stock dividends -- (813)

Net loss attributable to
Common Stockholders $(6,269) $(7,927)

Basic and diluted net loss
Per common share $(0.23) $(0.33)

Shares used in computing basic and
Diluted net loss per common share 26,831 24,259

Note: Certain prior year balances have been reclassified to conform with the current year presentation.

AFFYMETRIX, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(In thousands)

March 31, December 31,
2000 1999
(Unaudited) (Note)
ASSETS

Current assets:
Cash and cash equivalents $128,496 $12,677
Short-term investments 310,481 213,763
Accounts receivable 30,203 24,646
Inventories 14,908 12,792
Other current assets 1,572 4,159
Total current assets 485,660 268,037

Net property and equipment 45,160 40,775

Acquired technology rights 8,800 8,965

Notes receivable from stockholders 1,043 1,074

Other assets 18,767 7,736
$559,430 $326,587

LIABILITIES AND STOCKHOLDERS` EQUITY

Current liabilities:
Accounts payable and accrued liabilities $33,989 $29,926
Deferred revenue 14,276 6,468
Current portion of capital lease obligation 199 261
Total current liabilities 48,464 36,655

Obligation to Beckman Coulter, Inc. 5,000 5,000

Convertible subordinated notes 375,000 150,000

Common stock purchase rights 3,000 3,000

Stockholders` equity:
Common stock 273 271
Additional paid-in-capital 259,002 256,739
Accumulated deficit (130,472) (124,203)
Other (837) (875)
Total stockholders` equity 127,966 131,932
$559,430 $326,587

Note: The balance sheet at December 31, 1999 has been derived from the audited supplemental financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

SOURCE: Affymetrix, Inc.

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