Illumina Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Illumina Inc. (ILMN) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $3 million, or $0.02 per share. This compares with $86 million, or $0.55 per share, in last year's first quarter.

Excluding items, Illumina Inc. reported adjusted earnings of $13 million or $0.08 per share for the period.

Analysts on average had expected the company to earn $0.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.7% to $1.09 billion from $1.22 billion last year.

Illumina Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $3 Mln. vs. $86 Mln. last year. -EPS (Q1): $0.02 vs. $0.55 last year. -Analyst Estimates: $0.02 -Revenue (Q1): $1.09 Bln vs. $1.22 Bln last year.

-Guidance: Full year EPS guidance: $1.25 to $1.50