NEW YORK (Thomson Financial) - Shares of Illumina Inc. rallied in premarket
trading Tuesday after the genetic analysis systems company provided an earnings
and revenue outlook that was above Wall Street forecasts.
The San Diego-based company said it now expects first-quarter adjusted
earnings of 33 to 36 cents a share, exceeding the mean estimate of analysts
surveyed by Thomson Financial of 26 cents a share.
Revenue for the quarter is projected to be $110 million to $115 million,
compared with analyst forecasts of $111.2 million.
For 2008, the company expects adjusted earnings of $1.45 to $1.60 a share
and revenue of $500 million to $525 million, topping Wall Street expectations
for earnings of $1.23 a share and revenue of $493.8 million.
The stock ran up to $70.50 ahead of the open, up 8.6% from Monday's closing
price of $64.89.
Tomi Kilgore
tk1
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|