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Illumina Posts 38-Percent Increase in Q4 Revenues

NEW YORK, Feb. 22 (GenomeWeb News) - Illumina today reported a 38-percent increase in its fourth-quarter revenues, posting $14.8 million in sales for the quarter ended Jan. 2, 2005, compared to $10.7 million in the fourth quarter of 2003.


Illumina attributed the increase in revenues to the shipment of 13 BeadStations and "record sales" of oligonucleotides during the quarter. The company said it had a year-end installed base of 49 BeadStations


The company reported a net income of $3.2 million, or $.08 per diluted share, during the quarter, compared to a net loss of $4.0 million, or $.12 per share, in the fourth quarter of 2003.


However, Illumina noted that its quarterly results benefited from a one-time gain of $3.3 million, or $.08 per diluted share, related to the reduction of damages previously awarded in a wrongful-termination lawsuit.


Illumina's R&D expenses were flat year over year - at $5.3 million compared to $5.5 million in the fourth quarter of 2003.


The company held $67 million in cash and investments as of Jan. 2.


Separately today, Illumina announced that it plans to acquire CyVera, a microbead developer, for $17.5 million.


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