February 3, 2009 / 9:57 PM / 10 years ago

UPDATE 1-Illumina Q4 results beats Street, strong Q1, 2009 view

* Q4 results beats Street

* Sees Q1 EPS of $0.23-$0.26 vs consensus of $0.19

* Sees 2009 EPS of $1.10-$1.20 vs consensus of $0.88.

*

Feb 3 (Reuters) - Illumina Inc (ILMN.O), which makes tools for genetic analysis, posted better-than-expected quarterly results and forecast first-quarter outlook above analysts’ estimates, even as other tool makers struggle with falling sales.

Shares were up 7 percent after the bell to $30. They had closed at $27.99 Tuesday on Nasdaq.

The company said revenue during the fourth quarter rose 43 percent to $160.9 million, beating analysts’ estimates of $154.4 million.

It earned net income of $28.9 million, or 22 cents a share. Excluding stock compensation expense and other items, it earned 31 cents a share.

Illumina said it expects year-over-year growth between 20 percent and 26 percent.

Last week, Affymetrix Inc AFFX.O, which makes arrays to analyze genetic data, said its quarterly revenue fell 27 percent and shrinking endowments at academic institutions could lead to lower project funding levels in the near term.

For full details of the alerts, [ID:nWNAB7597] (Reporting by Jennifer Robin Raj in Bangalore; Editing by Anil D’Silva)

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