NEW YORK (Thomson Financial) - Illumina Inc. Tuesday reported first-quarter
adjusted earnings of $22.5 million, or 37 cents a share.
This figure excludes charges of $2.4 million related to amortization of
intangible assets, $10.9 million in non-cash stock compensation expense and a
net tax benefit of $4.2 million from non-cash stock compensation expense.
The mean estimate of analysts polled by Thomson Financial, including options
expense, was for a profit of 24 cents a share in the March period. Excluding
options expense, Wall Street's consensus view was for earnings of 34 cents a
share in the quarter.
Revenue totaled $121.9 million in the latest three months, up 69% from $72.2
million in the same period a year earlier and ahead of Wall Street's consensus
estimate for revenue of $115.4 million.
For the second quarter, the San Diego-based maker of life science technology
products forecast earnings of 37 to 40 cents a share, excluding options expense,
on revenue of between $127 million and $132 million. The outlook compares to the
current average analysts' view for earnings of 37 cents a share in the June
period on revenue of $125 million.
For the year, Illumina sees earnings of $1.55 to $1.68 a share, again
excluding options expense, on revenue ranging from $515 million to $535 million.
The company said this earnings outlook represents an increase of 9 cents per
share from the midpoint of its prior projection. Wall Street's current consensus
estimate is for earnings of $1.58 a share for the year on revenue of $520.2
million.
The stock closed the session at $72.47 and was up 4.9% to $76 in afterhours
action.
Michael Baron
mb
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