NEW YORK (GenomeWeb News) – Illumina reported after the close of the market Tuesday that its third quarter revenues increased 25 percent year over year, beating Wall Street estimates on the top and bottom line.

The San Diego-based genetic analysis tools firm reported total revenues of $357 million, up from $285.9 million for Q3 2012, and surpassing the Wall Street consensus estimate for revenues of $343.6 million.

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Under a proposed spending bill, the US National Institutes of Health would see an additional $3 billion in funding.

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