Illumina, a medical device manufacturer based in San Diego, California, released positive
fourth quarter results following the sale of its stake in deCode Genetics. For Q4, Illumina netted $72 million in net income on $309 million in total revenue.
In December of 2012, Ilumina sold deCode Genetics to Amgen for $415 million. While the sale inflated fourth quarter profits at the company, Illumina has also experienced success in its regular day-to-day operations. According to a press release by the company, revenues at Ilumina increased 24 percent over the previous fiscal year. This revenue increase was partly based on increased sales of the company’s TruSeq and MiSeq sequencing technologies.
Without the deCode cash payout, Illumina would have posted $23.4 million in net income for Q4. This still represents a 200 percent increase of Q4 results from 2011.
Jay Flatley is the CEO of Ilumina. In prepared remarks, he said, "We ended the year with a strong performance and made significant progress on our strategy of growing our clinical business, both organically and through acquisition.”
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