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SOURCE ARRAYit Corporation
SUNNYVALE, Calif., Oct. 21, 2013 /PRNewswire/ -- ARRAYit Corporation (OTCQB: ARYC) announces that the company has shipped its proprietary microarray life sciences products to Illumina Inc. (NASDAQ: ILMN), a developer, manufacturer and marketer of life science tools and integrated systems for the analysis of genetic variation and biological function using its proprietary bead array and solid phase sequencing technologies to empower DNA microarray and next generation sequencing (NGS) applications.
A microarray technology leader, Illumina was founded in 1998. The company is based in San Diego, California. Illumina's DNA sequencing platform is used to sequence an impressive 90% of all human DNA worldwide.
ARRAYit's patented contact printing platform and consumables empower a wide range of synergistic applications with Illumina including multi-patient genotyping, high-sensitivity gene expression analysis, serum-based protein diagnostics, affordable consumer testing, and many others. Over 100 scientific publications available on-line feature ARRAYit and Illumina technology simultaneously, which highlights the complementarity of the two patented platforms: http://scholar.google.com/scholar?start=10&q=Arrayit+Illumina&hl=en&as_sdt=0%2c5.
Illumina had $1.1 billion in total revenue in fiscal 2012. ARYC product sales to Illumina will book as revenue and earnings in the fourth quarter of 2013.
About ARRAYit Corporation
ARRAYit Corporation is a Sunnyvale, California-based company leading and empowering the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development, and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure. The company's innovative products and services help scientists and clinicians explore the human genome as well as the genomes of plants and animals. ARRAYit's products are used by every major research center in the world.
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Safe Harbor Statement
Except for historical information contained herein, statements made in this release that constitute forward-looking statements are based on currently available information, involve certain risks and uncertainties and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. Risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the biomedical business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions, the outcome of our legal disputes; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against ARRAYit and/or our officers and directors as a result of any restatements. 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, 2012 and Form 10-Q for the fiscal first quarter ended March 31, 2013, Form 10-Q for the fiscal second quarter ended June 30, 2013.
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