Illumina announces preliminary revenue for first quarter of fiscal year 2016
Illumina, Inc. has announced estimated first quarter revenue of approximately $572 million, a 6% increase compared to $539 million in the first quarter of 2015 and 7% growth on a constant currency basis. This estimate, which is unaudited, is based on management's preliminary financial analysis.
“Our first quarter results fell short of expectations largely due to lower than expected sales of HiSeq 2500, 3000 and 4000 instruments. Despite this slow start in Q1, we anticipate that our Americas and Asia Pacific regions will meet our expectations for the full year, but that Europe will underperform.
"As a result, we now project approximately 12% revenue growth for fiscal 2016,” stated Jay Flatley, Chairman and CEO. “Given the disappointing outlook in Europe, we have made management changes in the region and plan to implement a program of actions to achieve our goal of delivering the robust growth we believe the market can support.”
Financial outlook and guidance
Updated GAAP and non-GAAP EPS guidance will be provided when reporting first quarter results on May 3, 2016.
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Illumina are a global leader in genomics – an industry at the intersection of biology and technology.