Gene-sequencing systems under development at Illumina. Photo from corporate video
Gene-sequencing systems under development at Illumina. Photo from corporate video

San Diego-based Illumina, a maker of gene-sequencing systems, said Monday its profits tripled in the third quarter as sales reached nearly half a billion dollars.

The company reported net income of $93 million, or 63 cents per fully diluted share, in the quarter ended Sept. 28, compared to $31 million, or 22 cents per share, in the same period last year. Revenue totaled $481 million, up 35 percent compared to $357 million last year.

Research and development expenses for the quarter were $85 million compared to $71 million in the prior year period.

“Illumina experienced tremendous momentum in the third quarter, with strong shipments in HiSeq X, NextSeq and MiSeq, as well as the associated consumables, resulting in record financial results,” said CEO Jay Flatley.

“With the most extensive sequencing portfolio available, we are well-positioned for continued long-term growth as we develop and address the large and untapped market opportunities ahead of us.”

Illumina has emerged as the global leader in gene sequencing and DNA array technologies. In March, the editors of the MIT Technology Review named Illumina the “smartest company in the world.”

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Chris Jennewein

Chris Jennewein is Editor & Publisher of Times of San Diego.