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Illumina shares up on higher sales of gene-sequencing products
April 22, 2014 / 10:07 PM / in 4 years

Illumina shares up on higher sales of gene-sequencing products

(Reuters) - Life-science tool maker Illumina Inc (ILMN.O) reported a better-than-expected jump in quarterly revenue, helped by strong sales of its gene-sequencing products.

The company’s shares rose about 8.5 percent in after-market trading.

The company’s net income rose to $60 million, or 40 cents per share, in the first quarter ended March 31, from a loss of $22.6 million, or 18 cents per share, a year earlier.

Illumina’s adjusted profit was 53 cents per share for the quarter.

Revenue rose 27 percent to $420.8 million.

Analysts on average were expecting earnings of 44 cents per share on revenue of $391.8 million, according to Thomson Reuters I/B/E/S.

Reporting By Anjalirao Koppala; Editing by Simon Jennings

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