San Diego-based Illumina reported Thursday a 12 percent increase in first-quarter earnings and a record $1 billion in new orders for gene-sequencing products.
The genomics pioneer earned $233 million, or $1.57 per share, on revenue of $846 million in the quarter ended March 31, compared to $208 million, or $1.41 per share, on revenue of $782 million a year ago.
“This was a strong start to the year, with $846 million in revenue and more than $1 billion in orders for the first time in Illumina’s history,” said Francis deSouza, president and CEO.
“Our growth is driven by a broad range of sequencing applications, with 14 percent sequencing consumable growth in the first quarter, including more than 20 percent growth in clinical sequencing consumables,” he added.
The company said it continues to expect full-year revenue growth in the range of 13 percent to 14 percent, and now expects per-share earnings of $6.29 to $6.39
Shares of Illumina stock closed up $4.68 at $319.20 on Thursday, but then fell back to the $308 level in after-hours trading.
Illumina’s gene-sequencing machines are widely used in research, clinical treatment, oncology, reproductive health and agriculture.
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