Illumina, maker of gene-sequencing machines, saw a 32% decline in profit in its fourth quarter, as the company's expenses rose from $122.2m to $147.3m. However it exceeded even its own expectations for earnings, all be they lower than the next fiscal year, including items at $104m or 70 cents per share (compared with $153m or $1.03 per share). Earlier this month, Illumina launched Grail, a liquid biopsy company that will develop a test to detect evidence of cancer in the blood. The company expects revenues to rise 16% in a year earlier, with adjusted earnings on a per-share basis between $3.55 and $3.65.
Illumina, maker of gene-sequencing machines, saw a 32% decline in profit in its fourth quarter, as the company's expenses rose from $122.2m to $147.3m. However it exceeded even its own expectations for earnings, all be they lower than a year earlier, including items at $104m or 70 cents per share (compared with $153m or $1.03 per share). Earlier this month, Illumina launched Grail, a liquid biopsy company that will develop a test to detect evidence of cancer in the blood. The company expects revenues to rise 16% in the next fiscal year, with adjusted earnings on a per-share basis between $3.55 and $3.65.