affymetrix inc (AFFX) Key Developments
Affymetrix and EverGene Ltd. Collaborate in Genetic Research and Personal Genomics Services in Japan
Apr 13 15
Affymetrix and MTI Ltd., through its wholly-owned subsidiary, EverGene Ltd., (MTI/EG) announce that the two companies will collaborate in genetic research and personal genomics services in Japan. With the support of leading academics and through this collaboration, MTI/EG plans to further expand their business in the healthcare field. MTI/EG announced the launch of 'DearGene Starter Kit', which is an updated genotyping service for consumers. This service is a comprehensive genotyping analysis that provides diseases onset risk based on a risk calculation model developed by Dr. Kamatani. Affymetrix’ Axiom genotyping platform will be used for generating the individual’s genotyping data. Affymetrix will support MTI/EG in their genetic research and PGS programs in Japan by supplying its Axiom Genotyping Solution for the highly accurate measurement of genetic variation. Samples from MTI/EG will be processed exclusively by Takara Bio Inc. of Japan, who has a excellent and long established reputation in the genomics field. Affymetrix has begun providing MTI/EG with custom Axiom genotyping arrays for the collaborative research program, and will supply custom Axiom arrays for MTI/EG’s personal genomics service, 'DearGene Starter Kit'.
Affymetrix Inc. Announces Retirement of Robert P. Wayman as Member of the Board of Directors
Feb 23 15
Affymetrix Inc. announced that Robert P. Wayman, a member of the Board of Directors of the company, has decided to retire from the Board of Directors of the Company effective as of February 20, 2015. Mr. Wayman served as a director of the Company since 2007 and the Board of Directors valued his experience in finance, corporate governance and compliance.
Affymetrix Mulls Acquisitions
Feb 11 15
Affymetrix Inc. (NasdaqGS:AFFX) intends to pursue acquisitions. "We've been pretty clear about we can build some cash now and that gives us some dry powder to go and look out to make potentially some modest M&A activity within our verticals. We've got some very clear acquisition criteria. We're not looking for a very large acquisition. It would need to be accretive in the 18 months to two-year time scale. It will be within our. We've got three verticals translational clinical, genotyping and single cell. It will be within that. We're not looking for something like the eBio transactionally did two, two -and-a-half years ago which was very, very large bonus to swallow. It will be something which is within our verticals, leverages our current commercial team," Gavin Wood, Chief Financial Officer and Executive Vice President.
Affymetrix, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Financial Guidance for the Full Year of 2015
Feb 4 15
Affymetrix Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. Total revenue was $349.0 million in 2014, as compared to total revenue of $330.4 million in 2013. Total revenue grew by 8.9% in 2014, after adjusting for a one-time license payment of $5.3 million in 2013 and the sale of its Anatrace business with revenues of $4.5 million. Total GAAP gross margin was 59%, as compared to 55% in 2013. Non-GAAP gross margin was 62%, as compared to 60% in 2013. Non-GAAP net income was $22.3 million, or $0.30 per diluted share, as compared to $7.4 million, or $0.10 per diluted share, for 2013. GAAP net loss was $3.8 million, or $0.05 per diluted share, as compared to a net loss of $16.3 million, or $0.23 per diluted share, in 2013. Cash provided by operating activities was $43.5 million. Income from operations was $2.123 million against loss of $12.552 million a year ago. Loss before income taxes was $3.598 million against $15.166 million a year ago. EBITDA was $38.159 million against $51.388 million a year ago. Adjusted EBITDA was $59.895 million against $57.508 million a year ago. For the full year, the company reduced its senior debt by more than 40% to about $23 million. The company invested roughly $8 million dollars in CapEx.
Total revenue for the fourth quarter was $93.5 million, as compared to $92.6 million in the fourth quarter of 2013. Total revenue grew by 7.3% over the fourth quarter of 2013, after adjusting for a one-time license payment of $5.3 million in 2013 and the sale of its Anatrace business with revenues of $0.2 million in the fourth quarter of 2014. Total GAAP gross margin was 63%, as compared to 59% in the fourth quarter of 2013. Non-GAAP gross margin was 64%, as compared to 62% in the fourth quarter of 2013. Non-GAAP net income was $8.9 million, or $0.09 per diluted share, as compared to $2.2 million, or $0.02 per diluted share, for the fourth quarter of 2013. GAAP net income was $5.2 million, or $0.05 per diluted share, as compared to $9.4 million, or $0.10 per diluted share, in the fourth quarter of 2013. GAAP net income in 2013 included a gain on the divestiture of the Company's Anatrace business of $9.3 million, or $0.10 per diluted share and a one-time license payment of $5.3 million, or $0.06 per diluted share. Income from operations was $6.292 million against $3.890 million a year ago. Income before income taxes was $4.841 million against $9.049 million a year ago. EBITDA was $13.169 million against $25.269 million a year ago. Adjusted EBITDA was $16.956 million against $19.518 million a year ago. The company generated strong cash flow of approximately $15 million from operating activities.
For 2015, the company reiterate its guidance of mid-single-digit growth on a constant currency basis. The assumptions for growth rates by business unit are: the Genetic Analysis business units growing mid-teens reflecting the successful completion of the UK Biobank in early third quarter; eBioscience business unit growing between 6% and 8%; Expression business unit decline is around 10%; and low single-digit decline in the Life Sciences Reagents business unit. Given the value of the dollar has appreciated significantly since the company stated its initial 2015 revenue guidance in November. Going forward, the company intensified its revenue both on reported and constant currency basis. The company expects to generate adjusted EBITDA in the range of 16% to 18% for fiscal year '15 and non-GAAP gross margins of around 60%.
Affymetrix Inc. Presents at Leerink's Global Healthcare Conference, Feb-11-2015 10:15 AM
Jan 30 15
Affymetrix Inc. Presents at Leerink's Global Healthcare Conference, Feb-11-2015 10:15 AM. Venue: Waldorf Astoria New York, New York, New York, United States. Speakers: Franklin R. Witney, Chief Executive Officer, President and Director, Gavin H. J. Wood, Chief Financial Officer, Principal Accounting Officer and Executive Vice President.