San Diego-based Illumina Inc. Tuesday reported third-quarter net income of $163 million, or $1.11 per diluted share, compared with $129 million, or 87 cents per diluted share, in the same period last year.
The maker of genomics equipment reported revenue of $714 million, or $107 million higher than the third quarter of 2016, partially offset by higher expenses.
Research and development expenses for the third quarter of 2017 totaled $134 million compared with $126 million in the prior-year period.
“We delivered strong financial results in the third quarter with revenue growth across both our sequencing and microarray portfolios,” said Francis deSouza, Illumina’s president and CEO.
Illumina also reported results for the first nine months as whole, with net income of $657 million, or $4.45 cents per diluted share, compared to $336 million, or $2.27 per diluted share in the first three quarters of 2016.
— City News Service
