AFFX lowers revenue guidance

Affymetrix (AFFX) announced after the market close that it expects revenues to fall short of analyst expectations due to lower than anticipated orders for its GeneChip product line and a continued decline in the market for spotted array instrumentation. The company said it expects second quarter revenues to be $44-$50 million, including $3-$4 million in revenues from Perlegen (Santa Clara, Calif.), an AFFX subsidiary identifying genetic variations across human genomes. AFFX expects to report a net loss of $4-$7 million, excluding non-cash, acquisition-related charges. According to AFFX, the unexpected weakness in orders is a result of uncertainties in the pharma industry and sporadic ordering patterns from a few of its large customers. ...