- Illumina Inc (ILMN), a maker of products used in genetic research, posted first-quarter results and provided 2008 outlook that beat market expectations significantly
- Excluding items, Illumina earned 37 cents a share this quarter compared with 22 cents a share a year ago. Revenue rose 69 percent to $121.9 million.
- Analysts on average had expected earnings of 24 cents a share, before special items, on revenue of $115.3 million, according to Reuters Estimates.
- The San Diego-based company expects 2008 earnings of $1.55 to $1.68 a share, excluding items, on revenue of $515 million to $535 million. Analysts were expecting a profit of $1.18 a share, before special items, on revenue of $519.9 million.
- Contract research company Pharmaceutical Product Development Inc. said Tuesday its first-quarter profit fell 4 percent on a series of investment charges and writeoffs related to the failed drug candidate SinuNase.
- The company earned $40.1 million, or 33 cents per share, compared with profit of $42 million, or 35 cents per share, during the same period a year prior. Excluding charges, the company said it earned 44 cents per share. Analysts polled by Thomson Financial expected profit of 43 cents per share.
- Revenue rose 19 percent to $396.2 million from $332.3 million. Analysts expected revenue to reach $396.3 million.
Long Illumina in fund; no personal position