Shiny Quarter at Illumina

Illumina ( ILMN), a developer of genetic-testing tools, saw its shares jump more than 18% after the company's quarterly earnings report came in much stronger than expected Tuesday.

The San Diego-based company reported earnings and revenue that blew past estimates thanks to a number of recent deals it signed, including arrangements with deCode Genetics ( DCGN) of Iceland, the Children's Hospital of Philadelphia and the Center for Children with Special Needs in Qatar.

Illumina reported second-quarter revenue of $41.6 million, more than double last year. The company earned $6.8 million, or 14 cents a share, reversing a loss of $18.5 million, or 46 cents a share, in the year-ago quarter.

Excluding certain charges, Illumina would have earned $10.1 million, or 21 cents a share. Analysts surveyed by Thomson First Call expected the company to earn 3 cents a share with a top line of just under $33 million. Shares of Ilumina were surging $5.23 to $33.55 in after-hours trading.

Thanks to strong demand for the company's genotyping technologies, Illumina raised its third-quarter revenue guidance to between $44 million and $48 million and its profit forecast to 22 cents to 24 cents a share, before items. Analysts had been predicting revenue of $36 million and earnings of 4 cents a share.

For the full year, the company expects revenue of between $160 million and $170 million and earnings, excluding any items, of 61 cents to 82 cents a share.

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