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Illumina s Q3 Revenues Jump 44 Percent, Losses Narrow

NEW YORK, Oct. 24 (GenomeWeb News) - Illumina today reported a 44-percent increase in third-quarter revenues accompanied by narrowed net losses.

 

The company posted total revenues of $19.5 million for the quarter ended Oct. 2, up from $13.5 million in the third quarter of 2004. Product-related revenues jumped to $16.3 million from $12.1 million in the prior-year period, while service revenues increased to $2.7 million from $1.1 million in the comparable period of 2004.

 

Illumina credited the increase in revenues to a "record" 19 BeadStations shipped during the quarter, bringing the company's installed base of Beadlabs and BeadStations to 102.

 

IIllumina narrowed its quarterly net loss to $1.4 million, or $.03 per share, from $2 million, or $.05 per share, in the third quarter of 2004.

 

The company increased its third-quarter R&D spending to $7.1 million from $5.4 million in the prior-year period.

 

Illumina held cash and investments totaling $50.2 million as of Oct. 2.

 

Looking forward, the company projected revenues of between $21 million and 23 million for the fourth quarter of its fiscal year - up to 55 percent over fourth-quarter 2004 revenues of $14.8 million.

 

For the full year, Illumina said it expects total revenues of between $72 million and $74 million, which would represent an increase of up to 46 percent over $50.6 million in 2004 revenues. 

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