Illumina Earnings: Here’s Why Investors are Happy Now
Illumina Inc. (NASDAQ:ILMN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.32%.
Illumina Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 27.78% to $0.46 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Rose 21.33% to $330.96 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Illumina Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company beat the mean analyst estimate of $0.39. It beat the average revenue estimate of $310.73 million.
Quoting Management: “We are pleased with our first quarter results,” said Illumina’s President and Chief Executive Officer Jay Flatley. “Our business demonstrated strong growth across the entire portfolio, which resulted in record revenue, and we made significant progress on furthering our reproductive health strategy with the closing of the Verinata acquisition. We are now focused on continuing to deliver on our 2013 strategic initiatives for strong long-term growth.”
Key Stats (on next page)…