DELAWARE
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0-28218
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77-0319159
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(State of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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Exhibit No.
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Description
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99.1
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Press Release dated November 5, 2012
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AFFYMETRIX, INC.
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By:
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/s/ TIMOTHY C. BARABE
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Name:
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Timothy C. Barabe
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Title:
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Executive Vice President and Chief Financial
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Officer, Treasurer and Principal Financial Officer
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Exhibit No.
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Description
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99.1
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Press Release dated November 5, 2012
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·
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The Company signed a Powered by Affymetrix (PbA) agreement with PathGEN Dx Pte. Ltd., a spin-off molecular diagnostics company founded by researchers from the Genome Institute of Singapore.. Under this PbA agreement, PathGEN Dx will develop an in-vitro diagnostic kit for comprehensive pathogen detection using their PathGEN® PathChip and is based on a patented, efficient, and accurate microarray-based protocol and analysis method. The kit will be comprised of PathGEN Dx's proprietary reagents, an automated software package, and a contract manufactured GeneChip® microarray from Affymetrix. It will detect the presence of more than 70,000 viral and bacterial genomes from a wide variety of human samples, annotate the genomic information, and identify co-infecting pathogens.
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·
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The Company announced the availability of SensationPlus™ FFPE Amplification and 3' IVT Labeling Kit (SensationPlus™ FFPE Reagent Kit), consisting of RNA amplification and labeling modules, to enable gene expression profiling of formalin-fixed, paraffin-embedded (FFPE) samples on GeneChip 3' IVT arrays and Almac Xcel™ Array for disease clinical research and retrospective studies. SensationPlusTM FFPE Reagent Kit is an advanced version of the Genisphere® technology Affymetrix licensed last year.
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·
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The Company announced the expansion of its license agreement with Siemens Healthcare Diagnostics for the company's branched DNA (bDNA) technology whereby Affymetrix is the exclusive licensee for in situ products, including in vitro diagnostics. This expanded license grants Affymetrix rights to develop and sell in situ QuantiGene® ViewRNA products, currently for research use only, in the in vitro diagnostic market. Additionally, this license includes exclusive rights to alkaline phosphatase conjugated oligonucleotides and their use in bDNA methods for in situ detection utilizing Fast Red substrates.
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September 30,
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December 31,
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2012
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2011
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(Unaudited)
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(See Note 1)
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ASSETS:
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Current assets:
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Cash and cash equivalents
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$
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29,026
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$
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201,937
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Restricted cash
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691
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692
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Available-for-sale securities—short-term portion
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2,575
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7,937
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Accounts receivable, net
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52,534
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44,021
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Inventories—short-term portion
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74,891
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42,851
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Deferred tax assets—short-term portion
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379
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364
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Property and equipment, net—held for sale
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5,000
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9,000
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Prepaid expenses and other current assets
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15,078
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7,785
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Total current assets
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180,174
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314,587
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Available-for-sale securities—long-term portion
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7,337
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54,501
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Property and equipment, net
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30,988
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30,583
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Inventories—long-term portion
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14,668
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-
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Goodwill
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159,420
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-
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Intangible assets, net
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157,930
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29,525
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Deferred tax assets—long-term portion
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3,445
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450
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Other long-term assets
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16,224
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8,369
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Total assets
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$
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570,186
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$
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438,015
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LIABILITIES AND STOCKHOLDERS' EQUITY:
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Current liabilities:
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Accounts payable and accrued liabilities
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$
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56,852
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$
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44,774
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Convertible notes—short-term portion
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3,855
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-
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Term loan—short-term portion
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6,375
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-
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Deferred revenue—short-term portion
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10,749
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9,852
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Total current liabilities
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77,831
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54,626
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Deferred revenue—long-term portion
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3,453
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3,959
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Convertible notes—long-term portion
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105,000
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95,469
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Term loan—long-term portion
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76,500
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-
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Other long-term liabilities
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22,345
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9,127
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Stockholders' equity:
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Common stock
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707
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704
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Additional paid-in capital
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757,051
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750,332
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Accumulated other comprehensive income
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4,420
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2,492
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Accumulated deficit
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(477,121
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)
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(478,694
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)
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Total stockholders' equity
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285,057
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274,834
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Total liabilities and stockholders' equity
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$
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570,186
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$
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438,015
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Note 1: | The condensed consolidated balance sheet at December 31, 2011 has been derived from the audited consolidated financial statements at that date included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011. |
Three Months Ended
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Nine Months Ended
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September 30,
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September 30,
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2012
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2011
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2012
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2011
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REVENUE:
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Product sales
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$
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72,685
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$
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57,001
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$
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189,681
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$
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182,608
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Services and other
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6,939
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6,986
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21,593
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19,762
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Total revenue
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79,624
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63,987
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211,274
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202,370
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COSTS AND EXPENSES:
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Cost of product sales
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33,979
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24,647
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81,907
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70,913
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Cost of services and other
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3,959
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3,001
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11,057
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9,627
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Research and development
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16,498
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15,328
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43,417
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46,894
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Selling, general and administrative
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36,302
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26,915
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104,752
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80,802
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Total costs and expenses
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90,738
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69,891
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241,133
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208,236
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Loss from operations
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(11,114
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)
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(5,904
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)
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(29,859
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)
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(5,866
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)
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Interest income and other, net
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(3,933
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)
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(2,154
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(1,631
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(3,549
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)
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Interest expense
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2,993
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991
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4,191
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2,866
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Loss before income taxes
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(18,040
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)
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(9,049
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(35,681
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(12,281
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)
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Income tax (benefit) provision
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(181
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)
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740
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(37,254
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)
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1,141
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Net (loss) income
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$
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(17,859
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)
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$
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(9,789
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$
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1,573
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$
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(13,422
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Basic net (loss) income per common share
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$
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(0.25
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$
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(0.14
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$
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0.02
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$
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(0.19
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Diluted net (loss) income per common share
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$
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(0.25
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$
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(0.14
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$
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0.02
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$
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(0.19
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Shares used in computing basic net (loss) income per common share
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70,403
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69,719
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70,181
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70,790
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Shares used in computing diluted net (loss) income per common share
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70,403
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69,719
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70,610
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70,790
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Three Months Ended
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Nine Months Ended
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|||||||||||||||
September 30,
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September 30,
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2012
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2011
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2012
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2011
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GAAP net (loss) income - diluted
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$
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(17,859
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)
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$
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(9,789
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)
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$
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1,573
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$
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(13,422
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)
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Amortization of inventory fair value adjustment
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4,536
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-
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4,855
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-
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Amortization of acquired intangible assets
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5,016
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1,544
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7,919
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4,632
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Acquisition-related transaction costs
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326
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-
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6,093
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-
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Acquisition-related integration costs
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1,541
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-
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1,541
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-
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Share-based compensation charge related to acquisition
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-
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-
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8,265
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-
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Provision (recovery) of notes receivable
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-
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2,215
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(2,215
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)
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2,215
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Impairment of non-marketable investments
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-
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743
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-
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1,900
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Impairment of held-for-sale property
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4,000
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-
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4,000
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-
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Income tax benefit related to acquisition
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-
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-
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(37,462
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)
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-
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Non-GAAP net loss - diluted
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$
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(2,440
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)
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$
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(5,287
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)
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$
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(5,431
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)
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$
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(4,675
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)
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Basic net loss per common share
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$
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(0.03
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)
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$
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(0.08
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)
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$
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(0.08
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)
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$
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(0.07
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)
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Diluted net loss per common share
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$
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(0.03
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)
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$
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(0.08
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)
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$
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(0.08
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)
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$
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(0.07
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)
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Shares used in computing basic net loss per common share
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70,403
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69,719
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70,181
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70,790
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Shares used in computing diluted net loss per common share
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70,403
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69,719
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70,610
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70,790
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