Affymetrix beats Street EPS

AFFX reported fourth quarter and full year pro forma EPS of $0.07 and $0.13, respectively, both beating the Street's consensus estimates by a penny. For the quarter, sales increased 26% to $69.7 million from $55.2 million for the same period in 2001, reflecting strong demand for AFFX's GeneChip probe arrays. For the year, product sales were $248.5 million, up 27% from $194.9 million in 2001. Product revenue excludes sales to Perlegen (Moutain View, Calif.), which was spun out from AFFX in 2000.

Going forward, AFFX said it expects first quarter and full year 2003 sales of $71-$73 million and $330 million, respectively. ...