Illumina Sales Miss Expectations
Luke Timmerman7/1/09
San Diego-based Illumina, the maker of genetic analysis tools for biologists, said today that its second-quarter sales fell short of the company’s forecast. Illumina (NASDAQ: ILMN), in a preliminary, unaudited financial review, said it expects to report $161 million in second quarter sales—less than the $168 to $173 million it expected. It blamed the shortfall on reduced research funding from foundations, and delays as customers wait to see how their budgets are affected by the federal stimulus package.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
