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R&D Surge Widens Illumina s Q4 Net Loss; Revenue Inches Ahead

Feb 01, 2002

NEW YORK, Feb. 1 - Illumina on Friday said that a significant increase in R&D spending caused it to post widened net losses in the fourth quarter of 2001.

 

Losses in the period ended Dec. 31 were $8.2 million, or $0.27 per share, compared with $4.6 million, or $0.16 per share in the year-ago quarter, the company said.

 

Although revenue in the period increased to $761,000 from $485,000 year over year, R&D spending ballooned to $6.1 million from $3.8 million one year ago.

 

Illumina, based in San Diego, said it had roughly $94 million in the bank at the end of 2001.

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