SUNNYVALE, Calif., Oct. 24, 2013 /PRNewswire/ -- ARRAYit Corporation (OTCQB: ARYC) reports that it has received a $104,000 purchase order from the University of California for its life science instruments product line.
ARRAYit is a provider of integrated platforms, instruments, tools, kits and reagents for genomics, cancer biology, life science research on plants and animals, synthetic biology and many other exciting applications. The company's industry-leading microarray platform is installed in 4,000 research centers globally, including the University of California, as well as numerous top academic, government, biotech, pharmaceutical and diagnostic companies.
ARRAYit's technology is a favorite among researchers due to its inherent versatility, affordability and performance. The company empowers researchers to manufacture, scan and analyze microarrays prepared from cellular and synthetic DNA, RNA, proteins, peptides, carbohydrates, lipids, small molecules, tissues, whole cells and nanoparticles.
The University of California is one of the nation's most prestigious educational and research systems comprising 10 campuses, 442,000 students and employees, and an investment portfolio of retirement, endowment and cash assets of $78.5 billion. ARYC will book the sale to the University of California as revenue and earnings in the current quarter.
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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