Illumina Q3 Beats on Top and Bottom Lines

By Eric Volkman – Oct 21, 2013 at 7:33PM

NASDAQ: ILMN

Illumina

Market Cap

$20B

Today's Change

(3.50%) $4.21

Current Price

$124.46

Price as of April 23, 2024, 4:00 p.m. ET

The company sees a 25% increase in revenue, and a 17% advance in non-GAAP net income.

Illumina's (ILMN 3.50%) Q3 results cheered investors today. The company reported quarterly revenue of $357 million, a 25% jump from the $286 million it posted in Q3 2012. Non-GAAP net income also grew, rising to $63 million ($0.45 per diluted share) from the year-ago quarter's $54 million ($0.41).

On average, analysts had been projecting a top line of $344 million and EPS of $0.40.

Illumina also provided forward guidance. For fiscal 2013, the company now believes it will post revenue growth of around 22% year over year, placing the top line at around $1.4 billion. EPS is expected to come in at $1.75-$1.77.

Illumina stock climbed by nearly 7%, or $5.59, to $87.35 per share in after-hours trading following the results announcement.

Fool contributor Eric Volkman has no position in Illumina. The Motley Fool recommends Illumina. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.