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Illumina Reports Financial Results For Third Quarter Of Fiscal Year 2012

Depreciation and amortization expenses were $15.8 million and capital expenditures were $17.7 million during the third quarter of 2012. The company ended the quarter with $1.2 billion in cash, cash equivalents and short-term investments which is essentially unchanged from January 1, 2012.

Highlights since our last earnings release

  • Completed the acquisition of BlueGnome, a leading provider of cytogenetics and in vitro fertilization (IVF) screening products
  • Announced expedited Individual Genome Sequencing Services (IGS), powered by HiSeq® 2500 to enable breakthrough turnaround time, available via Illumina's CLIA-certified laboratory
  • Announced an alliance with Partners HealthCare to introduce next-generation sequencing (NGS) clinical interpretation and reporting tools
  • Announced TruSight™ targeted sequencing content sets, enabling labs to offer cost-effective, streamlined, targeted sequencing solutions for genetic diseases
  • Held our inaugural 'Understand Your Genome' event
  • Launched Infinium ® HumanCore Arrays for economical large-scale genetic studies
  • Announced that the FDA selected the MiSeq® system for use in an extensive program to identify foodborne pathogens
  • Launched TruSeq® Stranded mRNA and Total RNA Sequencing Sample Preparation solutions, delivering superior data quality for challenging samples and unprecedented views of the transcriptome
  • Further strengthened Illumina's management team by appointing Paul Bianchi to Senior Vice President of Human Resources
  • Announced a favorable outcome in patent litigation against Helicos BioSciences Corporation
  • Repurchased $25 million of common stock under our previously announced share repurchase program

Financial outlook and guidance

“We are very pleased with our operational execution so far in 2012,” said Jay Flatley, Illumina's President and Chief Executive Officer. “As a result of our performance and the recent announcement regarding NIH funding under the continuing resolution, we are tightening our 2012 revenue and EPS guidance ranges. However, we remain cautious given the uncertainty of the U.S. fiscal cliff as well as the outcome of the Presidential election. Accordingly, we now expect 2012 revenue to be between $1.134 billion and $1.144 billion, (previous guidance was $1.1 billion to $1.175 billion), and non-GAAP earnings per fully diluted share to be between $1.54 and $1.59 (previous guidance was $1.50 to $1.60).”

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