Illumina (Nasdaq:ILMN) today announced that its Board of Directors has authorized the company to repurchase, on a discretionary basis, up to $250 million of its outstanding common shares in the open market or in privately negotiated transactions, subject to market conditions and other factors. The company also announced the completion of the existing discretionary authorization of $96 million that was repurchased since the company reported earnings on October 20 th.

"This announcement reflects our conviction in Illumina's long-term strategy and revenue growth trajectory, as we penetrate the many large, untapped market opportunities ahead," said Marc Stapley, Senior Vice President and Chief Financial Officer at Illumina. "It is also indicative of our strong financial position, which enables us to opportunistically execute share repurchases to deliver value to our shareholders, while investing in the long-term growth of the business."

About Illumina, Inc.

Illumina is transforming human health as the global leader in sequencing and array-based technologies. The company serves customers in a broad range of markets, enabling the adoption of genomic solutions in research and clinical settings. To learn how Illumina is unlocking the power of the genome, visit www.illumina.com and follow @illumina.

Forward-Looking Statements

This release may contain forward-looking statements that involve risks and uncertainties. Important factors that could cause actual results to differ materially from those in any forward-looking statements are detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We do not intend to update any forward-looking statements after the date of this release.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151102005204/en/

Copyright Business Wire 2010