Key Developments: Affymetrix Inc (AFFX.O)
3.73USD
21 May 2013
$-0.01 (-0.27%)
$3.69
$3.74
$3.76
$3.69
290,994
662,371
$5.50
$2.96
Latest Key Developments (Source: Significant Developments)
Affymetrix Inc Appoints Gavin Wood As Executive Vice President And CFO
Affymetrix Inc announced that it has appointed Mr. Gavin Wood to the position of Executive Vice President and Chief Financial Officer (CFO). Tim Barabe, the current CFO, is expected to retire from Affymetrix effective June 28, 2013. Full Article
Affymetrix Inc Issues Q1 2013 Revenue Guidance Below Analysts' Estimates
Affymetrix Inc announced that it expects total revenue of approximately $78 million for the first quarter of 2013, including revenue of approximately $19 million from eBioscience. Revenues for the first quarter were below expectations, primarily due to continued headwinds in gene expression business across all regions, in particular Japan. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $83 million for the first quarter of 2013. Full Article
Affymetrix Inc Collaborate With Aqua Gen To Achieve Density View Of Marker Patterns
Affymetrix Inc announced in collaboration with Aqua Gen, a member of the Erich Wesjohann (EW) Group GmBH and Center for Integrative Genomics (CIGENE) at the Norwegian University of Life Sciences, to genotype more than 900,000 markers per sample from the Atlantic salmon (Salmo salar), thereby achieving the capability to implement genomic selection and improve their salmon breeding program at Aqua Gen. Aqua Gen and CIGENE partnered with Affymetrix to develop the salmon genotyping screening array which consists of 923,627 SNP (Single Nucleotide Polymorphism) markers and includes both diploid and tetraploid sequence variants. The goal of the ongoing study is to identify relevant and polymorphic high resolution markers that can be used downstream for marker trait association studies, genomic selection programs, as well as for a wide variety of applications in genetics and ecology. Full Article
Affymetrix Inc Issues FY 2013 Revenue Guidance n Line With Analysts' Estimates-Conference Call
Affymetrix Inc announced that outlook for fiscal 2013 is to grow revenue. The Company expect to have revenue in excess of $330 million for fiscal 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $332 million for fiscal 2013. Full Article
Affymetrix Inc Comments On Q1, FY 2013 Charge Guidance
Affymetrix Inc announced that for fiscal 2013, it expects to record a total charge of approximately $7 million, the majority of which will be incurred during the first quarter of 2013 except for $1.8 million which was recognized in fiscal 2012. Full Article
Affymetrix Inc To Slash 100 Jobs-Reuters
Reuters reported that Affymetrix Inc will slash more than 100 jobs, or 8% of its workforce, as part of a plan to help it return to profit. Affymetrix said the restructuring is likely to result in annualized savings of about $25 million, and it will take a charge of about $7 million, majority of which will incurred in the first quarter of 2013. Full Article
Affymetrix Inc Issues Q4, FY 2012 Revenue Guidance In Line With Analysts' Estimates
Affymetrix Inc announced that for the fourth quarter of 2012, it expects total revenue to be approximately $84 million. For fiscal 2012, it expects total revenue of approximately $295 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $84 million for the fourth quarter of 2012; revenue of $296 million for fiscal 2012. Full Article
Affymetrix Inc Issues Q3 2012 Revenue Guidance
Affymetrix Inc announced that based on preliminary financial data, the Company expects total revenue of approximately $80 million for the third quarter of 2012, with revenue of approximately $18 million from the eBioscience business. Full Article
Affymetrix, Inc. Completes Acquisition Of eBioscience Holding Company, Inc.
Affymetrix, Inc. announced that the Company has completed its acquisition of eBioscience Holding Company, Inc., a privately-held company with in flow cytometry and immunoassay reagents for immunology and oncology research and diagnostics. Under the terms of the agreement, Affymetrix paid approximately $315 million in cash to acquire eBioscience, funded through a new senior secured credit facility, an offering of convertible notes and other available cash resources. As a result of the merger, eBioscience has become a wholly-owned subsidiary of Affymetrix. In connection with the acquisition of eBioscience, Affymetrix`s Compensation Committee approved equity incentive awards to 278 eBioscience employees as inducement to join Affymetrix. An aggregate 1.32 million shares of Affymetrix common stock may be issued to these new non-executive employees under the awards, which include an aggregate 942,000 restricted stock units that vest in equal installments over two years, subject to performance based criteria, 296,650 restricted stock units that vest in equal installments over four years and options to purchase up to 80,000 shares of common stock that vest in equal installments over four years. The stock options have a maximum term of 7 years. Full Article
Affymetrix, Inc. Announces Pricing of Offering of Convertible Senior Notes Due 2019
Affymetrix, Inc. announced that it has entered into an agreement to sell $105 million aggregate principal amount of unsecured 4.00% Convertible Senior Notes due 2019. Affymetrix also has granted the underwriters an option to purchase up to $10 million aggregate principal amount of additional notes on the same terms and conditions, solely to cover over-allotments, if any. The notes will be convertible into Affymetrix’s common stock at an initial conversion rate of 170.0319 shares per $1,000 principal amount of notes, subject to adjustment. This conversion rate is equivalent to an initial conversion price of approximately $5.88 per share. This represents a premium of approximately 25% to the last reported sale price of Affymetrix’s common stock on the NASDAQ Global Select Market on June 19, 2012. Affymetrix intends to use the net proceeds from the offering to fund a portion of the purchase price for its pending acquisition of eBioscience Holding Company, Inc. In the event that the acquisition of eBioscience is not consummated and Affymetrix does not elect to redeem the notes, Affymetrix management will retain broad discretion over use of the net proceeds. Citigroup and Morgan Stanley are acting as joint book-running managers of the offering, and BofA Merrill Lynch and Baird are acting as co-managers. Full Article
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