REFILE-UPDATE 1-Illumina's Q1 beats estimates; outlook shines

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April 22 (Reuters) - Illumina Inc (ILMN.O), a maker of products used in genetic research, posted first-quarter results and provided 2008 outlook that beat market expectations significantly, sending shares up 5 percent.

The company posted quarterly profit of $13.4 million, or 21 cents a share, compared with a net loss of $298.1 million, or $5.58 share, a year ago.

Last year's results include a charge of $303.4 million related to Illumina's acquisition of Solexa Inc.

Excluding items, Illumina earned 37 cents a share this quarter compared with 22 cents a share a year ago.

Revenue rose 69 percent to $121.9 million.

Analysts on average had expected earnings of 24 cents a share, before special items, on revenue of $115.3 million, according to Reuters Estimates.

The San Diego-based company expects 2008 earnings of $1.55 to $1.68 a share, excluding items, on revenue of $515 million to $535 million. Analysts were expecting a profit of $1.18 a share, before special items, on revenue of $519.9 million.

Shares of the company rose to $75 after the bell after closing at $72.47 Tuesday on Nasdaq. (Reporting by Varsha Tickoo in Bangalore; Editing by Gopakumar Warrier)