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Illumina Reports Q3 Revenue Rise

SAN FRANCISCO, Oct. 23 - Illumina today reported increased revenue for the third quarter of 2002.


The company said its total revenue was $3 million in the third quarter which ended September 29, up from $700,000 in the same quarter of 2001. Strong oligo sales and first material revenue for genotyping services contributed to the rise in revenue, according to the company.


Illumina reported a net loss of $7.6 million, or $.24 per share, in the third quarter 2002 compared to a net loss of $5.8 million, or $.19 per share, in the year-ago period.


R&D spending increased to $6.4 million compared to $5.2 million in the same period a year ago.


Illumina also reported $73.7 million in cash and investments at the end of September 2002.


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