San Diego Business Journal

Illumina Reports Q2 Revenue of $662 Million, Updates Growth Projections

By Jared Whitlock Wednesday, August 2, 2017
   

Illumina Inc., which develops and manufactures genetic-testing equipment, reported that second-quarter revenue rose about 10 percent.

Revenue came to $662 million, compared with $600 million in the same quarter in 2016. The revenue growth was due in part to greater-than-expected interest in the company’s DNA sequencing platform NovaSeq.

“We have updated our 2017 revenue growth projections to reflect the market demand for NovaSeq and our positive outlook for the rest of the business,” said Francis deSouza, president and CEO, in a news release.

Now the company forecasts 12 percent revenue growth for the year.

In addition, Illumina reported $178 million in cash flow from operations, compared to $242 million during the same period in the prior year.