Illumina, the global leader in DNA-sequencing equipment, on Tuesday reported strong growth for its 2015 fiscal year, with net income increasing 31 percent on a 19 percent rise in sales.
The San Diego-based company earned $462 million, or $3.10 per share, on revenue of $2.22 billion in the year ended Jan. 3, compared to $353 million, or $2.37 per share, on revenue of $1.86 billion a year ago.
The strong annual performance came despite a dip in fourth-quarter net income to $104 million, or 70 cents per share, from $153 million, or $1.03 per share, in the same period of the previous year. The decline came despite a 15 percent increase in revenue as operating expenses rose.
“We closed 2015 with strong momentum as fourth quarter orders and revenue exceeded our expectations,” said CEO Jay Flatley.
He said recent new product announcements “enhance the most extensive genomics portfolio available” and position the company for long-term growth.
The results were released after the close of financial markets in New York, but the stock was down 6.5 percent at $144.54 in after-hours trading with analysts citing the fourth-quarter decline.
The company said it expects 16 percent revenue growth in the current year with annual earnings in the range of $3.55 to $3.65 per share,
