San Diego-based Illumina Inc. Tuesday reported fourth-quarter net income of $123.8 million, or 84 cents per diluted share, compared to $104.5 million, or 70 cents per diluted share, in the same period last year.
The maker of genome sequencing equipment reported quarterly revenue of $619.3 million, around $27 million above the final three months last year.
For 2016 as a whole, Illumina’s net income was $454.1 million, or $3.07 per diluted share, compared to $461.5 million, or $3.10 per diluted share, in 2015.
Full-year revenue was $2.4 billion, compared to $2.2 billion the year before, according to the maker of genomics equipment.
“We ended 2016 on a stronger note than we anticipated, with robust performance across sequencing consumables and microarrays,” said President and CEO Francis de Souza. We also made significant progress on key R&D programs as evidenced by the launch of NovaSeq, a brand new architecture that delivers the most powerful, flexible sequencer ever created, once again redefining the trajectory of sequencing.”
The company announced NovaSeq three weeks ago. Company officials said the flexible platform could one day lower the cost of genome sequencing to $100, from the current norm of around $1,000.
— City News Service
