Illumina 4Q Earnings Beat Wall Street Targets
January 29 2020 - 4:54PM
Dow Jones News
Illumina Inc. (ILMN) on Wednesday reported fourth-quarter
earnings that topped Wall Street projections.
The San Diego-based genetics-technology company posted quarterly
net income of $239 million, or $1.61 a share. On an adjusted basis,
profit rose to $1.70 a share from $1.31 a share a year earlier.
Revenue rose to $953 million from $867 million a year
earlier.
Analysts surveyed by FactSet expected $1.46 a share, or $1.58 a
share as adjusted, on $942.4 million in revenue.
This year, Illumina expects to make $6.45 to $6.65 a share, or
$6.80 to $7 a share as adjusted, with revenue increasing 9% to 11%.
The guidance, the company said, doesn't factor in any impact from
the termination of the merger agreement with Pacific Biosciences of
California Inc. Illumina was to pay Pacific Biosciences $98 million
as a termination fee.
Analysts expect $6.73 a share, or $7.02 a share as adjusted,
with revenue increasing about 11%.
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(END) Dow Jones Newswires
January 29, 2020 16:39 ET (21:39 GMT)
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