California-based Illumina Inc. (ILMN), a major manufacturer of life-science tools and integrated systems for large-scale genetic analysis, recently presented its preliminary financial results for fourth quarter and full year 2014 at the J.P. Morgan Healthcare Conference in San Francisco, CA. The company is slated to release its comprehensive financial results on Jan 27.
Illumina estimates total revenue of $512 million for the yet to-be-reported fourth quarter, which reflects a massive improvement of 32.2% over the prior-year quarter's revenue of $387.3 million. The estimated top line compares favorably with the Zacks Consensus Estimate of $504 million by 1.6%.
On the bottom-line front, Illumina estimates adjusted earnings per share for full year 2014 slightly above the top end of its previously announced guidance range of $2.63–$2.65. The current Zacks Consensus Estimate of $2.64 for the full year lies below the top end of the company's previously announced guidance range.
The company also announced its projection about the next fiscal along with these preliminary financial results. For 2015, Illumina expects year-over-year revenue growth of 20%, which implies that the top line will amount to $1.7 billion in the year. However, this top line compares unfavorably with the Zacks Consensus Estimate of $2.3 billion for 2015.
On the bottom-line front, Illumina expects adjusted earnings per share in the range of $3.12–3.18 for full year 2015. The current Zacks Consensus Estimate of $3.14 lies within the company's projected range.
Notably, these projections for full year 2015 assume full year adjusted gross margin of roughly 73% and a pro forma tax rate of approximately 28%. Moreover, Illumina expects weighted average diluted share outstanding for full year 2015 to be approximately 150 million shares.
Currently, Illumina has a Zacks Rank #3 (Hold). Better-ranked stocks in the med-biomed/generic industry include Affymetrix Inc. (AFFX), Alexion Pharmaceuticals, Inc. (ALXN) and AMAG Pharmaceuticals, Inc. (AMAG). All these stocks sport a Zacks Rank #1 (Strong Buy).
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