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Illumina expects Q3 revenue of $550 million, 14% better

Staff writer ▼ | October 6, 2015
Illumina announced estimated third quarter revenue of approximately $550 million, a 14% increase compared to $481 million in Q3 2014 and 18% growth on a constant currency basis.
Illumina   Disappointed with instrument sales in Europe
This estimate, which is unaudited, is based on management's preliminary financial analysis.

“Demand for sequencing consumables and the HiSeq family of instruments remained strong during the quarter, while instrument sales in the desktop family underperformed our expectations,” stated Jay Flatley, CEO.

“Geographically, we were disappointed with instrument sales in Europe and continued weakness in the Asia-Pacific region. Despite this 3% shortfall to expectations, our competitive position and product development pipeline are as strong as ever.

"The new markets we are targeting are enormous, and will support significant revenue growth for Illumina in 2016 and beyond, consistent with our prior long-term guidance.”

For fiscal 2015, the company now projects approximately 18% total revenue growth (21% on a constant currency basis, assuming current exchange rates) and fourth quarter revenue of approximately $570 million.

Updated GAAP and non-GAAP EPS guidance will be provided when reporting third quarter results on October 20, 2015.