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Illumina Reports Preliminary Q4 Revenues of $260M

By a GenomeWeb staff reporter

This article has been updated from a previous version to include additional details from the company's presentation at the JP Morgan Healthcare Conference.

NEW YORK (GenomeWeb News) – Illumina on Tuesday announced preliminary fourth-quarter revenues of approximately $260 million and preliminary full-year 2010 revenue of approximately $901 million.

The preliminary numbers represent a 44 percent increase over the company's fourth-quarter 2009 sales of $180.6 million, and a 35 percent increase over 2009 annual revenues of $666.3 million.

Illumina also announced preliminary non-GAAP earnings per share for the fourth quarter of between $0.28 and $0.29, and for the full year between $1.05 and $1.06.

The full-year revenue and earnings projections beat the company's earlier 2010 guidance of 28 percent growth over 2009 revenues and non-GAAP EPS of between $.93 and $1.

In October, Illumina officials said the firm would likely surpass that estimate, but did not provide further details.

During a presentation at the JP Morgan Healthcare Conference in San Francisco this week, Illumina CEO Jay Flatley said that sales of the company's HiSeq sequencing system were up 24 percent over the third quarter, while shipments of its recently launched Eco PCR system tripled in the fourth quarter as compared to the third quarter and microarrays were up 10 percent year over year.

For 2011, Illumina expects annual revenue growth of approximately 20 percent and non-GAAP earnings per share to grow more than 30 percent.

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