NEW YORK (GenomeWeb News) — Illumina today said fourth-quarter revenues jumped 163 percent as R&D spending rose 17 percent and profit soared.
Total receipts for the three months ended Dec. 31, 2006, increased to $60.4 million from $23 million year over year.
R&D spending increased to $8.8 million from $7.5 million year over year.
The company said profit increased to $17.1 million from $326,000 in the year-ago period.
Illumina said it had around $130.7 million in cash, cash equivalents, and short-term investments as of Dec. 31.
The company said it expects 2007 revenue to be between $295 million and $315 million. First-quarter revenues are expected to be between $64 million and $68 million.
In the fourth quarter, Illumina completed the acquisition of Solexa for $600 million, and added two Solexa board members to its board.