Illumina Earnings: Strong Performance
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 down 1.20%.
Illumina Inc. Earnings Cheat Sheet
Results: Net income increased 386.35% to $57 million (42 cents per diluted share) in the quarter versus a net gain of $11.72 million in the year-earlier quarter.
Revenue: Rose 23.69% to $309.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Illumina Inc. reported adjusted net income of 42 cents per share. By that measure, the company beat the mean analyst estimate of $0.41. It beat the average revenue estimate of $305.44 million.
Quoting Management: “We are very pleased with our execution in 2012,” stated Jay Flatley, President and CEO. “We ended the year with a strong performance, and made significant progress on our strategy of growing our clinical business, both organically and through acquisition…