Illumina (ILMN) Prelim. Q3 Revenue Misses Views; Offers Light Q4 Outlook

(Updated - October 10, 2016 4:18 PM EDT)

Illumina, Inc. (Nasdaq: ILMN) announced estimated third quarter revenue of approximately $607 million, a 10% increase compared to $550 million in the third quarter of 2015. This unaudited estimate, based on management's preliminary financial analysis, is lower than the third quarter revenue guidance of $625 million to $630 million.

(Note: The Street sees revenue of $628.1 million.)

The shortfall in quarterly revenue was driven by a larger than anticipated year-over-year decline in high throughput sequencing instruments. As a result, the company expects fourth quarter revenue will be flat to slightly up sequentially.

*** Additional Guidance:

The company also sees Q4 revenue flat-to-slightly-up versus Q3, with the Street consensus at $684.4 million.

Pre-Announcement Conference Call Details

A brief conference call to discuss preliminary third quarter results will be held today, October 10, 2016, at 1:30 pm Pacific Time (4:30 pm Eastern Time). Interested parties may listen to the call by dialing 888.771.4371 (passcode: 43578941), or if outside North America by dialing +1.847.585.4405 (passcode: 43578941). Individuals may access the live teleconference in the Investor Relations section of Illumina’s web site under the “company” tab at www.illumina.com.

A replay of the conference call will be available from 4:00 pm Pacific Time (7:00 pm Eastern Time) on October 10, 2016 through October 17, 2016 by dialing 888.843.7419 (passcode: 43578941), or if outside North America by dialing +1.630.652.3042 (passcode: 43578941).

Third Quarter Results Conference Call Details

Results for third quarter 2016 will be issued following the close of market on Tuesday, November 1, 2016. On the same day, at 2:00 pm Pacific Time (5:00 pm Eastern Time) Francis deSouza, President and CEO, and Marc Stapley, Executive Vice President, Chief Administrative Officer, and Chief Financial Officer, will host a conference call to discuss financial and operating results.

Interested parties may listen to the call by dialing 888.771.4371 (passcode: 43579048), or if outside North America by dialing +1.847.585.4405 (passcode: 43579048). Individuals may access the live teleconference in the Investor Relations section of Illumina’s web site under the “company” tab at www.illumina.com.

A replay of the conference call will be available from 4:30 pm Pacific Time (7:30 pm Eastern Time) on November 1, 2016 through November 8, 2016 by dialing 888.843.7419 (passcode: 43579048), or if outside North America by dialing +1.630.652.3042 (passcode: 43579048).

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