Illumina (ILMN) Shares Climb On Q2 Earnings And Sales Beat

Illumina Inc. ILMN just released its second quarter earnings results for fiscal 2016, posting earnings of $0.86 per share and revenue of $600 million  

Currently, ILMN has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Illumina:

Beat earnings estimates. The company posted earnings of $0.86, topping our Zacks Consensus Estimate of $0.73.  These numbers exclude $0.04 for nonrecurring items.

Beat revenue estimates. The company saw revenue figures of $600 million, topping our estimate of $594 million.  

“We delivered solid second quarter financial results with notable strength across our sequencing consumable and array portfolios”-Francis deSouza, CEO and President of Illumina.

For this year, the company continues to forecast 12% revenues growth, and Illumina expects sales between $625 and $630 million in the third quarter.

ILMN was up $7.90, or 5.26%, to $158.0 as of 4:14 p.m. EST in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Illumina’s quarterly revenues over the last five years.

ILLUMINA INC Revenue (Quarterly)

ILLUMINA INC Revenue (Quarterly) | ILLUMINA INC Quote

Illumina Inc. is a leading developer of next-generation tools for the large-scale analysis of genetic variation and function. The company's tools will provide information that could be used to improve drugs and therapies, customize diagnoses and treatment, and cure disease. The company is developing a comprehensive line of products that can address the scale of experimentation and the breadth of functional analysis required to achieve the goals of molecular medicine.

Check back later for full coverage on Illumina’s second quarter earnings report!

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