EXHIBIT 99.1

 

Contact:

Doug Farrell

Vice President of Investor Relations

408-731-5285

 

AFFYMETRIX REPORTS FOURTH QUARTER
AND FISCAL YEAR 2008 RESULTS

 

– Fourth quarter includes approximately $253 million of goodwill impairment and restructuring charges–

 

Santa Clara, Calif.January 28, 2009—Affymetrix Inc., (NASDAQ: AFFX) today reported its operating results for the fourth quarter and fiscal year ended December 31, 2008. Total revenue for the fourth quarter was $78.6 million, as compared to total revenue of $107.6 million in the fourth quarter of 2007. For the full year, total revenue was $410.2 million as compared to $371.3 million for 2007.

 

For the fourth quarter of 2008, product revenue was $66.6 million, which consisted of consumable (array and reagent) revenue of $61.5 million and instrument revenue of $5.1 million.  Service revenue was $8.5 million, and royalties and other revenue were $3.5 million. This compares to fourth quarter 2007 product revenue of $89.2 million, service revenue of $6.5 million, and royalties and other revenue of $11.9 million.

 

For the full year 2008, product revenue was $270.4 million, which consists of consumable revenue of $248.9 million and instrument revenue of $21.5 million. Service revenue was $32.1 million, and royalties and other revenue were $107.7 million, including an intellectual property payment of $90 million. This compares to full-year 2007 product revenue of $291.8 million, service revenue of $38.1 million, and royalties and other revenue of $41.4 million.

 

Affymetrix shipped 23 GeneChip® systems in the fourth quarter of 2008, bringing its cumulative systems shipped to 1,813.

 

The Company reported a net loss of approximately $318.7 million, or $4.65 per diluted share, in the fourth quarter of 2008 which included a pretax goodwill impairment charge of $239.1 million, or $3.49 per diluted share, and a pretax restructuring charge of $14.3 million, or $0.21 per diluted share.  This compares to net income of $12.8 million, or $0.17 per diluted share, in the same period of 2007 which included a pretax restructuring charge of $2.4 million, or $0.03 per diluted share.  Fiscal year 2008 net loss was $307.9 million, or $4.49 per diluted share, which included a pretax goodwill impairment charge of $239.1 million, or $3.49 per diluted share, and a pretax restructuring charge of $43.7 million, or $0.64 per diluted share; as compared to net income of $12.6 million, or $0.17 per diluted share, for fiscal year 2007 which included a pretax restructuring charge of $15.3 million, or $0.18 per diluted share.

 


The following information was filed by Affymetrix Inc (AFFX) on Wednesday, January 28, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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