Key Developments For Illumina, Inc.
Illumina, Inc. (ILMN.O) (Nasdaq)
Illumina, Inc. Announces $100 Million Share Repurchase Program
Illumina, Inc. announced that its Board of Directors has approved a new stock repurchase program, authorizing the Company to repurchase in the aggregate up to $100 million of its outstanding common stock. The $75 million share repurchase program originally announced on August 24, 2009, recently has been completed.
Illumina, Inc. Reiterates Q4 2009 Revenue Outlook; Announces Scale Up of Genome Analyzers At The Broad Institute
Illumina, Inc. reiterated its revenue outlook of a minimum of $165 million for the fourth quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $173 million for the same period. The Company also announced that the Broad Institute has purchased 30 additional Genome Analyzers, increasing its total installed base of Illumina systems to 89. Designed for facilities of all sizes, the Illumina Genome Analyzer has been adopted across genome centers worldwide, plus individual research labs, core and service facilities, and biotechnology and pharmaceutical companies.
Illumina, Inc. Issues Q4 2009 Outlook Below Analysts' Estimates; Issues FY 2009 Mixed Outlook
Illumina, Inc. announced that for fourth quarter of 2009, it expects revenues of $165 million and non-GAAP earnings per fully diluted pro forma share (EPS) between $0.24-$0.25. For fiscal 2009, it expects revenues of $651 million and non-GAAP EPS of $1.05-$1.06. According to Reuters Estimates, analysts were expecting the Company to report revenues of $202 million and non-GAAP EPS of $0.27 for fourth quarter of 2009 and revenues of $696 million and non-GAAP EPS of $0.89 for fiscal 2009.
Illumina, Inc. Countersues Life Technologies Corp. For Patent Infringement
Illumina, Inc. announced that together with Solexa its wholly owned subsidiary, it has filed its initial response to the lawsuit brought by Life Technologies Corp. and Applied Biosystems on September 21, 2009 in U.S. District Court in Wilmington, Delaware. In their answer, Illumina and Solexa have denied all of Life`s and AB`s allegations of patent infringement, and have asserted that AB`s licensed patents are invalid. In their counterclaims, Illumina and Solexa have sued Life and AB for infringement of four Solexa patents by Life`s SOLiD sequencing system. These four patents (U.S. Patent Nos. 6,831,994; 6,654,505; 7,232,656; and 7,598,035 having expiration dates falling between December 2017 and July 2019), stem from three different patent families and are applicable to various aspects of the SOLiD system, specifically sample preparation, data gathering and genome analysis. As remedy, Illumina seeks (i) a permanent injunction against further sales of the SOLiD system, (ii) the destruction of infringing SOLiD system products, and (iii) damages for Life and AB`s infringement of these four patents.
Illumina, Inc. Announces Launch Of IlluminaCompute
Illumina, Inc. announced the launch of IlluminaCompute, a fully integrated computing solution for its Genome Analyzer sequencing platform.
