SUNNYVALE, Calif., Nov. 1, 2013 /PRNewswire/ -- ARRAYit Corporation (OTCQB: ARYC) reports that it has received a $72,297 purchase order from ChemBio, the company's high-powered distributor in Moscow, Russia. ChemBio, which is Russia's premiere distributor of life sciences products and services, represents ARRAYit, Corning, Molecular Devices, Nalgene and other leading corporations, providing Russian customers with market information, technical assistance, installation, product support and training.
ChemBio purchased the patented and proprietary ARRAYit Microarray Platform including a SpotBot® 3 Protein Edition Desktop Personal Microarrayer and 126 additional instruments, tools, kits, reagents and consumables for advanced microarray research and development.
ARRAYit currently has a worldwide installed customer base of over 390 SpotBot® instruments, representing $8 million in aggregate revenue to the company. ARYC expects to report the sales and earnings from the ChemBio transaction 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 nearly 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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