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Illumina fiscal Q2 earnings rise YOY; guidance raised

Illumina Inc. said its non-GAAP net income attributable to stockholders for the second fiscal quarter rose to $212 million, or $1.43 per share, compared to $121 million, or 82 cents per share, in the same period a year ago.

The S&P Capital IQ consensus normalized EPS estimate for the second quarter was $1.11.

The San Diego-based life sciences company said revenues increased by 25% to $830 million from $662 million in the second fiscal quarter of 2017.

Illumina said its GAAP net income attributable to stockholders increased to $209 million, or $1.41 per share, from $128 million, or 87 cents per share, in the prior-year period.

For the fiscal year 2018, the company revised its non-GAAP EPS guidance to a range between $5.35 and $5.45 from the range of $4.75 to $4.85 it announced alongside its first-quarter results.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal year 2018 is $4.87.

GAAP EPS for the year is now expected to be between $5.10 and $5.20 as opposed to the $4.45 to $4.55 range announced previously. The company also expects its revenue to grow by about 20%.