Illumina, Inc. (NASDAQ: ILMN) stock fell 3.7% on 24th October, 2018 (as of 11:51 AM GMT-4 ; Source: Google finance) on mixed outcome
Non-GAAP net income attributable to Illumina stockholders for the quarter of $227 million compared to $163 million for the third quarter of 2017.
ILMN in the third quarter of FY 18 has reported the adjusted earnings per share of $1.52, while adjusted revenue growth was 19.5 percent to $853 million in the third quarter of FY 18. In the third quarter of 2018, sequencing consumable revenue of $467 million grew 23% compared to the third quarter of 2017 and included about $14 million of stocking associated with Chinese customers buying ahead of potential tariffs.
Moving to regional results, Americas’ revenue grew 14% versus the prior year period, driven by growth across the sequencing business. EMEA delivered another strong quarter with 33% growth from the prior year period, including a strong contribution from Genomics England, which has now sequenced more than 87,000 whole genomes. Other growth drivers included NovaSeq, NIPT, and sequencing consumables more broadly, which combined, more than offset a negative year-over-year FX impact.
During the third quarter, ILMN has received regulatory approval for the MiSeqDx, Illumina’s first next-generation sequencing (NGS) system cleared by the National Medical Products Administration (NMPA) in China. The company has released the S4 200 cycle kit for the NovaSeq in response to customer requests to support high-throughput sequencing for whole exome, RNA and single-cell sequencing. ILMN has reached a legal settlement as well as a supply and license agreement with Premaitha, who will now license Illumina’s IP for NIPT, launch an IONA test that runs on Illumina sequencing technology, and work with customers to migrate to Illumina systems
Further, the company has completed an offering of 0.0% convertible senior notes due 2023 for an aggregate principal amount of $650 million, plus an additional $100 million pursuant to the initial purchasers’ option to purchase additional notes, for total net proceeds of $735 million
ILMN has repurchased $103 million of common stock in the third quarter under the previously announced share repurchase program
For FY18, the company projects revenue growth of approximately 20%. The company now expects fiscal 2018 GAAP earnings per diluted share attributable to Illumina stockholders of $5.32 to $5.37 and non-GAAP earnings per diluted share attributable to Illumina stockholders of $5.70 to $5.75.