On Oct. 23, Illumina
- Sales rose 82.4%, driven by the growth in product revenues that grew 90% to $90 million.
- Gross margins fell 740 basis points because of a product-mix shift toward equipment.
- Cash from operations deteriorated 59%, primarily because of an increase in accounts receivable.
- Illumina signed a service agreement with Cancer Research UK to genotype more than 15,500 samples for uncovering factors linked to the development of lung and ovarian cancer.
- The company expects revenues in the range of $354 million to $358 million for 2007.
(Figures in thousands, except per-share data.)
Income Statement Highlights
Q3 2007 |
Q3 2006 |
Change |
|
---|---|---|---|
Sales |
$97,510 |
$53,472 |
82.4% |
Net Profit |
$14,503 |
$16,162 |
(10.3%) |
EPS |
$0.24 |
$0.32 |
(25.0%) |
Diluted Shares |
59,395 |
50,579 |
17.4% |
Get back to basics with the income statement.
Margin Checkup
Q3 2007 |
Q3 2006 |
Change* |
|
---|---|---|---|
Gross Margin |
61.9% |
69.3% |
(7.4) |
Operating Margin |
16.1% |
28.5% |
(12.4) |
Net Margin |
14.9% |
30.2% |
(15.4) |
Margins are the earnings engine.
Balance Sheet Highlights
Assets |
Q3 2007 |
Q3 2006 |
Change |
---|---|---|---|
Cash + ST Invest. |
$352,852 |
$169,942 |
107.6% |
Accounts Rec. |
$79,886 |
$29,045 |
175.0% |
Inventory |
$45,245 |
$19,397 |
133.3% |
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
---|---|---|---|
Accounts Payable |
$22,497 |
$10,614 |
112.0% |
Long-Term Debt |
$400,000 |
$11,947 |
3,248.1% |
The balance sheet reflects the company's health.
Cash Flow Highlights
Q3 2007 |
Q3 2006 |
Change |
|
---|---|---|---|
Cash From Ops. |
$5,316 |
$12,956 |
(59.0%) |
Capital Expenditures |
$5,332 |
$4,328 |
23.2% |
Free Cash Flow |
($16) |
$8,628 |
N/A |
Free cash flow is a Fool's best friend.
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