Illumina's 2nd quarter results

For the quarter ended June 27, 2004, the company reported revenue of $11.5m, a 140% increase compared with revenue of $4.8m in the second quarter of 2003.

Product revenue for the period was $9.0m, a $6.3m increase over the second quarter of 2003. Revenue for the six-month period ended June 27, 2004 was $22.3m, a 148% increase compared with revenue of $9.0m for the same six-month period in 2003. The Company reported a net loss of $3.5m, or $0.10 per share, compared with a net loss of $8.6m, or $0.27 per share, in the second quarter of 2003. Net loss for the six-month period was $7.4m, or $0.22 per share, compared with a net loss of $17.6m, or $0.55 per share, for the same six-month period in 2003.

Jay Flatley, Illumina President and ceo stated: 'This was the first full quarter of BeadStation system sales and we are pleased to have exceeded our shipment goals on this new product. We received orders from all major geographic regions demonstrating the effectiveness of our growing worldwide sales and support network. The majority of BeadStation shipments were the 500GX model providing customers the ability to study both gene expression and genotyping, and reflecting the flexibility of our BeadArray technology.'

'Our continued ability to provide high-performance, cost-effective products to customers helped us achieve our twelfth consecutive quarter of sequential revenue increases,' stated Tim Kish, Illumina's cfo. 'With gross margins again above 70%, increasing market acceptance of our new BeadStation systems and the upcoming rollout of our two whole genome BeadChip products, we remain well positioned to reach breakeven early in 2005,' added Kish.