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Illumina Reports Flat Revenues in Q3

SAN FRANCISCO, Nov. 8 – Illumina on Thursday posted third-quarter revenues of $700,000, unchanged from the same quarter a year ago, the company announced.

San Diego-based Illumina reported a net loss of $5.8 million, or 19 cents per share for the third quarter of 2001, compared to a net loss of $3.9 million, or 15 cents per share for the third quarter of 2000. 

Total costs and expenses for the period rose to $7.9 million from $6 million for the year-ago period, with research and development for the third quarter 2001 accounting for $5.1 million versus $3 million for the year-ago period.

“By integrating our core BeadArray technology with automated, LIMS-controlled processes, we can currently score in excess of 500,000 genotypes per day on a single imaging system in a highly multiplexed manner,” Jay Flatley, CEO of Illumina, said in a statement. “With minimal incremental investment, we expect to increase this production rate by year-end to over 1 million genotypes per day. We have just completed our first genotyping services contract with GlaxoSmithKline and are now aggressively marketing these services to a wide range of potential customers.”

The company reported $100.5 million in cash and investments as of September 30.

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