Illumina beats Street 4Q forecasts

SAN DIEGO (AP) _ Illumina Inc. (ILMN) on Tuesday reported fourth-quarter earnings of $123.9 million.

The San Diego-based company said it had net income of 84 cents per share. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The genetic testing tools company posted revenue of $619.3 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $614.4 million.

For the year, the company reported profit of $454.1 million, or $3.07 per share. Revenue was reported as $2.4 billion.

For the current quarter ending in April, Illumina expects its per-share earnings to range from 60 cents to 65 cents.

The company said it expects revenue in the range of $580 million to $595 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $626.4 million.

Illumina expects full-year earnings in the range of $3.60 to $3.70 per share.

Illumina shares have risen 25 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $160.10, an increase of nearly 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ILMN at https://www.zacks.com/ap/ILMN

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Keywords: Illumina, Earnings Report