Illumina Announces New $250 Million Share Repurchase Authorization
November 02 2015 - 6:30AM
Business Wire
Company completed repurchase of $96 million
under previous share repurchase program
Illumina (Nasdaq:ILMN) today announced that its Board of
Directors has authorized the company to repurchase, on a
discretionary basis, up to $250 million of its outstanding common
shares in the open market or in privately negotiated transactions,
subject to market conditions and other factors. The company also
announced the completion of the existing discretionary
authorization of $96 million that was repurchased since the company
reported earnings on October 20th.
"This announcement reflects our conviction in Illumina’s
long-term strategy and revenue growth trajectory, as we penetrate
the many large, untapped market opportunities ahead," said Marc
Stapley, Senior Vice President and Chief Financial Officer at
Illumina. "It is also indicative of our strong financial position,
which enables us to opportunistically execute share repurchases to
deliver value to our shareholders, while investing in the long-term
growth of the business."
About Illumina, Inc.
Illumina is transforming human health as the global leader in
sequencing and array-based technologies. The company serves
customers in a broad range of markets, enabling the adoption of
genomic solutions in research and clinical settings. To learn how
Illumina is unlocking the power of the genome, visit
www.illumina.com and follow @illumina.
Forward-Looking Statements
This release may contain forward-looking statements that involve
risks and uncertainties. Important factors that could cause actual
results to differ materially from those in any forward-looking
statements are detailed in our filings with the Securities and
Exchange Commission, including our most recent filings on Forms
10-K and 10-Q, or in information disclosed in public conference
calls, the date and time of which are released beforehand. We do
not intend to update any forward-looking statements after the date
of this release.
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version on businesswire.com: http://www.businesswire.com/news/home/20151102005204/en/
Illumina, Inc.Investors:Rebecca Chambers,
858-255-5243rchambers@illumina.comorMedia:Eric Endicott,
858-882-6822pr@illumina.com
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