Affymetrix' 4th-qtr income down 72%
USA-based bioassay specialist Affymetrix says that its net income for the quarter ended December 31, 2006, fell 71.5% to $8.7 million, or $0.13 per diluted share, from the $30.6 million it reported in the year-earlier period. The company explained that the decline was a result of the drop in its revenue, down 6.5% to $104.2 million, as well as a 26% increase, to $38.7 million, in the cost of product and product-related sales.
Affymetrix added that its income had been reduced by the impact of restructuring charges, which totalled $3.5 million for the quarter.
In addition, the Santa Clara-headquartered firm said that its selling, general and administrative expenses were up 5% to $31.0 million.
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