Illumina campus
The Illumina Campus in San Diego. Courtesy of the compnay

Shares of San Diego-based Illumina briefly hit an all-time high of $335.19 during trading on Friday following an upbeat earnings report earlier in the week.

The gene-sequencing company’s stock closed the day at $332.49, and is up 71 percent over the past year.

Following trading on Monday, Illumina announced second-quarter financial results that beat analysts’ expectations.

The company’s revenue increased 25 percent to $830 million, while profits grew 63 percent to $209 million, or $1.41 per share, compared to the second quarter of 2017.

Francis deSouza, President and CEO, said the company expects revenue growth of 20 percent for all of 2018 because of “the growing interest in genomic information and its application to research, clinical and consumer markets.

Chris Jennewein

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