Affymetrix (AFFX $6.61 -1.39) issued downside guidance this morning
for the second quarter.
The company expects to see revenue in the range of $64 million to $65 million
versus the $74.08 million Capital IQ Consensus Estimate.
The company expects product revenue for the second quarter of 2011 to be
approximately $58 million to $59 million, including consumable sales of
approximately $55 million and instrument sales of approximately $3.5 million.
"During the second quarter we experienced decreased sales to academic customers across all regions, particularly in North America... Our consumable revenue was down by about 10% from last year... We are clearly disappointed with our revenue this quarter... However, we still expect to generate approximately $10 million in positive cash-flow for the second quarter and to have a net cash position of more than $155 million."






