BofA/Merrill Lynch Downgrades Illumina (ILMN) to Neutral
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Illumina Announces Preliminary Revenue for First Quarter of Fiscal Year 2016
April 18, 2016 4:05 PM EDTSAN DIEGO--(BUSINESS WIRE)-- Illumina, Inc. (NASDAQ: ILMN) today announced estimated first quarter revenue of approximately $572 million, a 6% increase compared to $539 million in the first quarter of 2015 and 7% growth on a constant currency basis. This estimate, which is unaudited, is based on management's preliminary financial analysis.
Our first quarter results fell short of expectations largely due to lower than expected sales of HiSeq 2500, 3000 and 4000 instruments. Despite this slow start in Q1, we anticipate that our Americas and Asia Pacific regions will meet our expectations for the full year, but that Europe... More
