Gene-Sequencing Firm Illumina Cuts Revenue Guidance
October 10 2016 - 6:40PM
Dow Jones News
Gene-sequencing company Illumina Inc. cut its third-quarter
revenue guidance and gave a dour view for the current quarter on a
bigger-than-feared decline in sales of its high-volume sequencing
instruments.
Shares, down 3.7% this year, fell 22% to $144 in recent
after-hours trading.
The San Diego, Calif., company now expects revenue of roughly
$607 million for the quarter ended in September, compared with its
previous projection for revenue between $625 million and $630
million.
Illumina said it also expects fourth-quarter revenue will be
flat to slightly higher than during the third quarter. Analysts
polled by Thomson Reuters recently expected revenue of $684.6
million.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
October 10, 2016 18:25 ET (22:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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