October 27, 2009 / 9:09 PM / 10 years ago

UPDATE 1-Illumina Q3 misses estimates, shares plunge

* Q3 adj EPS 17 cents vs est 20 cents

* Revenue $158.4 mln vs est $167.3 mln

* Cuts FY 2009 revenue view

* Shares down 21 percent after the bell

Oct 27 (Reuters) - Illumina Inc (ILMN.O) posted a lower-than-expected third-quarter profit as expenses rose, and the company cut its 2009 revenue forecast, sending its shares tumbling 21 percent in post-market trading.

The company, which makes tools for genetic analysis, reported net income of $17.1 million, or 12 cents a share, compared with a net loss of $10.1 million, or 8 cents a share, last year.

Excluding certain items, the company earned 17 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 5 percent to $158.4 million.

Analysts on average expected the company to earn 20 cents a share, excluding items, on revenue of $167.3 million.

Research and development expenses rose 25 percent to $34.4 million, while its selling, general and administrative expenses increased 7 percent to $42.1 million.

Illumina said it expects minimum revenue of $165 million for the fourth quarter, which implies full-year revenue of $651 million. It earlier projected revenue of $690 million to $720 million for 2009.

Shares of the company were down 21 percent at $33.00 in after-market trade. They closed at $41.66 Tuesday on Nasdaq. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Anne Pallivathuckal)

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