Illumina Jumps Most in 15 Months on First-Quarter Profit
Illumina Inc. (ILMN) rose the most in almost 15 months after the maker of genetic decoders reported earnings that exceeded analysts’ estimates on higher sales.
Illumina climbed 13 percent to $62.44 at the close in New York, its biggest intraday gain since Jan. 25, 2012. The San Diego-based company reported first-quarter earnings excluding one-time items of 46 cents a share, beating the 38 cent average of 21 estimates compiled by Bloomberg.
Illumina’s machines provide a full transcript of a person’s DNA, information that is used to diagnose rare disease, identify the risk for a genetic condition, or match cancer treatments to patients’ tumors. The company’s shares tumbled in January after Roche Holding AG indicated it may no longer be interested in buying the company after a year of talks.
Revenue rose 21 percent to $331 million from a year earlier. The company reported a net loss of $23 million, or 18 cents a share, hurt by $106.9 million in costs related to a patent dispute with Syntrix Biosystems Inc.
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