This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Illumina Reports Financial Results For Second Quarter Of Fiscal Year 2013

Illumina, Inc. (NASDAQ:ILMN) today announced its financial results for the second quarter of 2013.

Second quarter 2013 results:

  • Revenue of $346 million, a 23% increase compared to $281 million in the second quarter of 2012
  • GAAP net income for the quarter of $36 million, or $0.26 per diluted share, compared to $23 million, or $0.18 per diluted share, for the second quarter of 2012
  • Non-GAAP net income for the quarter of $60 million, or $0.43 per diluted share, compared to $53 million, or $0.40 per diluted share, for the second quarter of 2012 (see the table entitled “Itemized Reconciliation Between GAAP and Non-GAAP Net Income” for a reconciliation of these GAAP and non-GAAP financial measures)
  • Cash flow from operations of $89 million and free cash flow of $77 million for the quarter

Gross margin in the second quarter of 2013 was 64.6% compared to 68.8% in the prior year period. Excluding the effect of non-cash charges associated with stock compensation, amortization of acquired intangible assets, and legal contingencies, non-GAAP gross margin was 69.5% for the second quarter of 2013 compared to 70.9% in the prior year period.

Research and development (R&D) expenses for the second quarter of 2013 were $67.6 million compared to $71.2 million in the second quarter of 2012. R&D expenses included $9.0 million and $7.7 million of non-cash stock compensation expense in the second quarters of 2013 and 2012, respectively. Excluding these charges, contingent compensation, and impairment of in-process R&D, R&D expenses as a percentage of revenue were 17.0% compared to 14.7% in the prior year period.

Selling, general and administrative (SG&A) expenses for the second quarter of 2013 were $88.7 million compared to $68.5 million for the second quarter of 2012. SG&A expenses included $13.9 million and $14.3 million of non-cash stock compensation expense in the second quarters of 2013 and 2012, respectively. Excluding these charges, contingent compensation, and amortization of acquired intangible assets, SG&A expenses as a percentage of revenue were 20.3% compared to 19.4% in the prior year period.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs