NEW YORK (GenomeWeb) – Illumina's estimated first quarter revenues grew 6 percent over the first quarter of 2016, falling short of expectations, the firm said Monday after the close of market and in advance of its first quarter earnings call.

Illumina estimated its Q1 revenues to be around $572 million compared to $539 million in the year ago quarter. Analysts, on average, had predicted that Illumina's Q1 revenues would be $596.3 million.

In response to the announcement, the firm's shares plummeted 25 percent to $133.49 in early Tuesday trade on the Nasdaq.

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