Illumina (ILMN) Tops Q3 EPS by 10c, Guides Below

Illumina (NASDAQ: ILMN) reported Q3 EPS of $0.97, $0.10 better than the analyst estimate of $0.87. Revenue for the quarter came in at $607 million versus the consensus estimate of $614.31 million.

GUIDANCE:

Illumina sees FY2016 EPS of $3.27-$3.32, versus the consensus of $3.38.

"While sequencing sample volume growth remains robust, our lowered revenue outlook reflects our updated expectations for HiSeq 2500, HiSeq 4000 and HiSeq X instrument purchases, as well as HiSeq 2500 reagent sales,” stated Francis deSouza, President and CEO. “Over the last few weeks it has become clear that certain academic funding practices were modified in the third quarter, limiting our customers’ ability to make HiSeq X capital commitments. Further, HiSeq 2500 and 4000 demand has been impacted by a migration to NextSeq, for enhanced workflow flexibility and HiSeq X, given its beneficial pricing for whole genome sequencing.”

For earnings history and earnings-related data on Illumina (ILMN) click here.

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