Janney Montgomery Scott Downgrades Illumina (ILMN) to Sell
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Illumina Announces Preliminary Revenue for Third Quarter of Fiscal Year 2016
October 10, 2016 4:05 PM EDTSAN DIEGO--(BUSINESS WIRE)-- Illumina, Inc. (NASDAQ: ILMN) today 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.
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.
Pre-Announcement Conference Call Details
A brief... More
