Illumina Reports Rise in Q1 Revenues, Flat Losses

NEW YORK, April 24 - Illumina reported increased revenues for the first quarter late yesterday, amid nearly flat net losses.

The San Diegogenotyping and oligonucleotide company's revenues for the quarter ended March 30 totaled $4.3 million, up from $1.3 million for the first quarter of last year.

Research and development expenses decreased slightly, to $5.7 million, from $7.1 million in the same period last year.

The company's net losses totaled $9.0 million for the quarter, up a hair from the $8.7 million in net losses reported for the first quarter of 2002.

At the end of March, Illumina had $60.4 million in cash and investments, a slight decrease from the $66.3 million it reported at the same time last year.