Amid Strong Demand, Illumina CEO Sees Need for More “Tuck-in” Deals

7/24/13Follow @bvbigelow

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technology is going to head and how we’ll be able to improve overall system integration, reducing hands-on time, making this more foolproof so that sequencing can become ever-more prevalent in the clinic and used by less and less sophisticated users.

“So you can imagine, if you think about the entire workflow of sequencing from the earliest parts of the sample prep, all the way through informatics, we’re looking to fill in any bits and pieces along that pipeline that we don’t currently have. Some of that clearly is being done internally through our own research and development efforts but if we have the opportunity to go get it quickly outside at a reasonable price, we will do that.”

Given the company’s strong financial results, Illumina also raised its guidance for the rest of the year—projecting that overall revenue will increase by about 20 percent instead of 15 percent as the company had previously estimated. Illumina also increased its earnings per share guidance to a range of $1.68 to $1.72 per share from prior guidance of $1.55 to $1.62 a share.

“These projections include the impact of both the Verinata and ALL acquisitions, as well as ongoing investment to support our long-term growth,” Illumina CFO Marc Stapley said during the conference call.

 

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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