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news.Affymetrix has reported total revenue of $169.6 million for the first quarter of 2008, including an intellectual property payment of $90 million, as compared to total revenue of $80.4 million in the first quarter of 2007.
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Product revenue was $62.8 million, which consists of array and reagent revenue of $58.8 million and instrument revenue of $4 million. Service revenue was $8.4 million, and royalties and other revenue were $98.3 million for the first quarter of 2008. This compares to first quarter 2007 product revenue of $64.5 million. Service revenue was $8.8 million, and royalties and other revenue were $7.2 million for the first quarter of 2007.
The company reported net income of approximately $46.3 million or $0.58 per diluted share in the first quarter of 2008, which includes a pretax restructuring charge of $13.9 million or $0.17 per diluted share, as compared to net loss of $4 million or $0.06 per diluted share in the first quarter of 2007, which included a pretax restructuring charge of $5.4 million or $0.08 per diluted share.