Illumina Profit Tops Street, Details Weak FY14 Adj. EPS Outlook; Stock Down 3%

(RTTNews) - Illumina Inc. (ILMN) Tuesday reported fourth-quarter net income of $81 million or $0.56 per share compared with $72 million or $0.53 per share last year.

Excluding items, adjusted earnings for the quarter were $65 million or $0.45 per share compared with $57 million or $0.42 per share a year ago.

Revenues for the quarter were up 25% at $387 million compared with $309 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.44 per share on revenues of $382.06 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin for the quarter climbed to 66.9% from 65.8% in the prior year.

Looking ahead to fiscal 2014, the company expects net earnings of $1.50 to $1.56 per share, adjusted earnings of $2.00 to $2.06 per share and revenue growth of 15% to 17% . Analysts expect earnings of $2.06 per share on revenue growth of 15.9%.

Illumina develops life science tools and integrated systems for the analysis of genetic variation and biological function.