Illumina Announces Consolidation of Connecticut Operations
Wednesday April 11, 9:15 am ET
Expansion in San Diego Facility Enables Further Efficiency
SAN DIEGO--(BUSINESS WIRE)--Illumina, Inc. (NASDAQ:ILMN - News) announced today that it intends to consolidate its operations in Wallingford, Connecticut into its facilities in San Diego, California. The Wallingford site was originally established in connection with the acquisition of CyVera Corporation and has supported the development and manufacture of the BeadXpress system which was launched in March of 2007. The consolidation is expected to be completed over the course of 2007. Upon completion, all manufacturing and development activities related to the BeadXpress system will continue in San Diego. As a result of the transition, Illumina will incur incremental charges of approximately $2 million. Combined with the expected efficiency gains, these charges are not expected to materially impact the Company's financial performance for 2007.
"With the completion of our acquisition of Solexa, we took the opportunity to evaluate all of our operations. We determined that consolidating the Wallingford operations into San Diego will provide us with efficiencies from both the manufacturing and product development perspective," said Jay Flatley, President and Chief Executive Officer. "We now will concentrate research and development and manufacturing activities in our San Diego and Hayward, California and Little Chesterford, United Kingdom facilities, all of which are expected to continue expanding as we see increasing demand for our products and services."
About Illumina
Illumina (www.illumina.com) is developing next-generation tools for the large-scale analysis of genetic variation and function.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors that could cause actual results to differ materially from those in any forward-looking statements are the costs and outcome of Illumina's litigation with Affymetrix, our ability to effectively integrate our recent acquisition of Solexa, Inc., Illumina's ability to further develop and commercialize its BeadArray technologies and to deploy new gene expression and genotyping products and applications for its platform technology, Illumina's ability to manufacture robust Sentrix® arrays and Oligator® oligonucleotides, Illumina's ability to scale and integrate CyVera technology, and other factors detailed in the Company's filings with the Securities and Exchange Commission including its recent filings on Forms 10-K and 10-Q or in information disclosed in public conference calls, the date and time of which are released beforehand. Illumina disclaims any intent or obligation to update these forward-looking statements beyond the date of this release.
Contact:
Illumina, Inc.
Jay Flatley
President & CEO
858-202-4501
jflatley@illumina.com
or
Christian Henry
Chief Financial Officer
858-202-4508
chenry@illumina.com
Source: Illumina, Inc. |
