Corporate - Media & Press - Press Release
Arrayit Corporation Posts 60% Quarterly Sales Increase
Source: Arrayit Corporation on April 17, 2012 at 1:30 PM EST
SUNNYVALE, Calif., April 17, 2012 (GLOBE NEWSWIRE) -- Arrayit Corporation (OTCQB: ARYC) today announces fourth quarter 2011 sales of $1.25M, a 60% quarter-over-quarter sales increase compared to $0.78M in the third quarter of 2011 and a 34% increase over the $0.93M recorded for Q4 2010. Sales for fiscal year 2011 increased to $3.81M from $3.08M in fiscal year 2010, a 24% annual increase.
Arrayit is a life sciences tools and diagnostics development leader that uses its proprietary and patented microarray platform for gene mapping and for messenger RNA profiling and protein expression analysis for research and clinical applications. These core capabilities empower pre-symptomatic detection of human disease and medicines tailored to individual patients for targeted treatment. Based on sensitivity, specificity, affordability, flexibility and ease of use, the company believes that it offers best-in-class technology.
Arrayit CEO Rene Schena states, "We are pleased to announce double digit growth for the quarter and fiscal year. These are important milestones for us as a public company, as they reflect the increasing adoption of our microarray platform and sector expansion." According to a recent report, the life science tools market is expected to surpass $80B by 2016.
About Arrayit Corporation
Arrayit leads and empowers the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies for disease prevention, treatment and cure.
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Visit www.arrayit.com for more information.
Safe Harbor Statement
We have identified forward-looking statements by using words such as "expect", "believe", and "should". Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended December 31, 2011.
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