Illumina second-quarter profit nearly doubles on new products; adjusted results beat Street
SAN DIEGO (AP) -- Illumina Inc., which makes products that analyze genes and biological functions, said Tuesday its second-quarter profit nearly doubled due to several new products.
For the period ended June 30, the company posted profit of $24.7 million, or 18 cents per share, compared with $12.7 million, or 9 cents per share, in the year-ago period.
Excluding stock-based compensation expenses and other one-time items, the company posted profit of $39.4 million, or 30 cents per share.
Revenue rose 15 percent to $161.6 million from $140.2 million.
Analysts polled by Thomson Reuters expected, on average, profit of 18 cents per share on revenue of $162.3 million. Analysts typically exclude one-time items, like stock-based compensation expenses.
Total costs and expenses rose 8 percent to $125.5 million.
Illumina recently launched products that analyze genetic variations in patients. The company has also begun offering human genome sequencing to consumers for $48,000 per procedure, though a doctor's prescription is required.
Meanwhile, the company said it expects third-quarter earnings of 26 cents to 30 cents per share, on revenue of $162 million to $172 million. Analysts expect third-quarter earnings of 21 cents per share on revenue of $162.3 million.
For the full year, Illumina expects earnings of $1.13 to $1.23 per share, on revenue of $690 million to $720 million. Analysts expect 2009 profit of $1.16 per share on revenue of $691.2 million.
Shares of Illumina rose $1.36, or 4.1 percent, to $34.30 in aftermarket trading, having closed the regular session at $32.94. |
