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Illumina Posts 40-percent Gain in Q1 Revenues as Net Loss Declines

NEW YORK, April 27 (GenomeWeb News) - Illumina today reported a 40-percent gain in first-quarter revenues, as total receipts for the quarter ended April 3 climbed to $15.1 million from $10.8 million year over year.

R&D spending increased 13 percent to $5.9 million from $5.2 million in the first quarter of 2004.

Net loss for the quarter fell to $1.2 million, or $.03 per share, from $3.9 million, or $.12 per share, in the first quarter of 2004.

Illumina had cash and cash equivalents of $62.1 million as of April 3.

The San Diego-based company expects second-quarter revenue to range between $15.5 million and $17.5 million, a year-over-year increase of between 35 percent and 52 percent. Illumina also said it expects total revenue for 2005 to range from $75 million to $82 million, a year-over-year increase of between 48 percent and 62 percent.

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