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Illumina: 1Q Earnings Snapshot

Illumina: 1Q Earnings Snapshot

Associated Press

SAN DIEGO (AP) _ Illumina Inc. (ILMN) on Thursday reported first-quarter earnings of $233 million.

On a per-share basis, the San Diego-based company said it had net income of $1.57. Earnings, adjusted for non-recurring costs, came to $1.60 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.

The genetic testing tools company posted revenue of $846 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $833 million.

Illumina expects full-year earnings in the range of $6.63 to $6.73 per share.

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Illumina shares have increased roughly 7 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $320.32, a climb of 39 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ILMN at https://www.zacks.com/ap/ILMN