Illumina, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; provides earnings guidance for the fiscal 2018
January 30, 2018 at 04:09 pm EST
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Illumina, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, total revenue was $778 million against $619 million a year ago. Income from operations was $230 million against $143 million a year ago. Income before income taxes was $224 million against $134 million a year ago. Consolidated net income was $58 million against $108 million a year ago. Net income attributable to Illumina stockholders was $68 million against $124 million a year ago. Earnings per diluted share attributable to Illumina stockholders were $0.46 against $0.84 per basic and diluted share a year ago. Net cash provided by operating activities was $294 million against $262 million a year ago. Purchases of property and equipment were $76 million against $82 million a year ago. Non-GAAP net income attributable to Illumina stockholders was $212 million against $126 million a year ago. Non-GAAP operating profit was $244 million against $155 million a year ago. Non-GAAP earnings per share attributable to illumina stockholders - diluted were $1.44 against $0.85 a year ago.
For the year, total revenue was $2,752 million against $2,398 million a year ago. Income from operations was $606 million against $587 million a year ago. Income before income taxes was $1,043 million against $561 million a year ago. Consolidated net income was $678 million against $428 million a year ago. Net income attributable to Illumina stockholders was $726 million against $463 million a year ago. Earnings per diluted share attributable to Illumina stockholders were $4.92 against $3.07 a year ago. Net cash provided by operating activities was $875 million against $779 million a year ago. Purchases of property and equipment were $310 million against $260 million a year ago. Non-GAAP net income attributable to Illumina stockholders was $591 million against $503 million a year ago. Non-GAAP operating profit was $687 million against $630 million a year ago. Non-GAAP earnings per share attributable to illumina stockholders - diluted were $4.00 against $2.33 a year ago.
For fiscal 2018, the company is projecting 13% to 14% revenue growth, GAAP earnings per diluted share attributable to Illumina stockholders of $4.14 to $4.24 and non-GAAP earnings per diluted share attributable to Illumina stockholders of $4.50 to $4.60. Amortization of acquired intangible assets were $0.24, Incremental non-GAAP tax expense were $0.11.
Illumina, Inc. specializes in the development, manufacturing and marketing of integrated systems for the analysis of genetic variation and biological function. The group's products are for genomic research centers, pharmaceutical companies, university institutions, clinical research organizations, and biotechnology companies. Net sales break down by source of income as follows:
- product sales (84.1%): tools and instruments for sequencing, genotyping, genetic expression, etc.;
- sales of services (15.9%).
Net sales are distributed geographically as follows: the United States (52.4%), Americas (3.6%), Europe (25.3%), Asia/Pacific/Middle East/Africa (10.2%) and China/Taiwan/Hong Kong (8.5%).
Illumina, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; provides earnings guidance for the fiscal 2018