Illumina Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 1, 2017; Provides Earnings Guidance for the Fiscal 2017
January 31, 2017 at 09:29 pm
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Illumina Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended January 1, 2016. For the quarter, the company announced total revenue of $619,347,000 compared to $591,548,000 for the same period a year ago. Income from operations was $143,016,000 compared to $144,000,000 for the same period a year ago. Income before income taxes was $134,243,000 compared to $135,007,000 for the same period a year ago. Net income was $107,542,000 compared to $102,864,000 for the same period a year ago. Net income attributable to company shareholders was $123,884,000 compared to $104,477,000 for the same period a year ago. Net income per diluted share was $0.84 compared to $0.70 for the same period a year ago. Net cash provided by operating activities was $280,153,000 compared to $240,378,000 for the same period a year ago. Purchases of property and equipment were $81,538,000 compared to $35,486,000 for the same period a year ago. Free cash flow was $198,615,000 compared to $204,892,000 for the same period a year ago. Non-GAAP net income per share, diluted was $0.85 compared to $0.81 for the same period a year ago. Non-GAAP net income attributable to company shareholders was $126,433,000 compared to $120,570,000 for the same period a year ago. Non-GAAP operating profit was $182,824,000 compared to $197,311,000 for the same period a year ago.
For the full year, the company announced total revenue of $2,398,373,000 compared to $2,219,762,000 for the same period a year ago. Income from operations was $587,032,000 compared to $612,841,000 for the same period a year ago. Income before income taxes was $561,178,000 compared to $583,142,000 for the same period a year ago. Net income was $428,090,000 compared to $457,390,000 for the same period a year ago. Net income attributable to company shareholders was $462,649,000 compared to $461,559,000 for the same period a year ago. Net income per diluted share was $3.07 compared to $3.10 for the same period a year ago. Net cash provided by operating activities was $687,238,000 compared to $659,596,000 for the same period a year ago. Purchases of property and equipment were $259,891,000 compared to $142,847,000 for the same period a year ago. Free cash flow was $427,347,000 compared to $516,749,000 for the same period a year ago. Non-GAAP net income per share, diluted was $3.33 compared to $3.32 for the same period a year ago. Non-GAAP net income attributable to company shareholders was $503,232,000 compared to $495,203,000 for the same period a year ago. Non-GAAP operating profit was $758,910,000 compared to $808,462,000 for the same period a year ago.
For fiscal 2017, the company is projecting 10% to 12% revenue growth, GAAP earnings per diluted share attributable to Illumina stockholders of $3.25 to $3.35 and non-GAAP earnings per diluted share attributable to Illumina stockholders of $3.60 to $3.70. Annual guidance assumes first quarter revenue of $580 million to $595 million, GAAP earnings per diluted share attributable to Illumina stockholders of $0.51 to $0.56 and non-GAAP earnings per diluted share attributable to Illumina stockholders of $0.60 to $0.65.
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. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 1, 2017; Provides Earnings Guidance for the Fiscal 2017