Illumina Profit Tops Estimates, Revenue Misses; Lifts FY Earnings Guidance

(RTTNews) - Illumina Inc (ILMN) on Tuesday reported second-quarter net earnings of $102.2 million or $0.69 per share compared with $46.6 million or $0.31 per share last year.

Excluding items, adjusted earnings for the quarter were $0.80 per share compared with $0.57 per share a year ago.

Revenues for the quarter were up 21% at $539.4 million compared with $447.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.77 per share on revenues of $541.8 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin in the quarter improved to 69.8% from 67.1% in the prior year, and operating margin climbed to 28.2% from 22.4%.

For the full year 2015, the company now expects adjusted earnings of $3.39 to $3.45 per share, an increase from its previous guidance of $3.36 to $3.42 per share. It still expects revenues to grow about 20%.

Analysts expect earnings of $3.44 per share and revenues to grow 21.5% in 2015.

Illumina is a provider of sequencing and array-based solutions for genetic analysis.