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Affymetrix shares jump on revenue guidance

Tue, 01/07/2014 - 5:32pm
The Associated Press

Affymetrix Inc. reported preliminary fourth-quarter revenue guidance Tuesday that beat Wall Street expectations, sending shares higher.

The maker of genetic testing instruments said it expects fourth-quarter revenue of about $91 million. Analysts, on average, expected revenue of $83.2 million, according to FactSet. Its sales in the same quarter in 2012 came to $84.4 million.

Affymetrix will release its full results on Feb. 5.

Shares of Affymetrix jumped 91 cents, or 11.5 percent, to close at $8.81 Tuesday.

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