Illumina Inc. (ILMN, Financial) filed Quarterly Report for the period ended 2010-07-04.
Illumina Inc. has a market cap of $5.61 billion; its shares were traded at around $46.04 with a P/E ratio of 54.7 and P/S ratio of 8.4. ILMN is in the portfolios of John Hussman of Hussman Economtrics Advisors, Inc., RS Investment Management, Chris Shumway of Shumway Capital Partners LLC, Columbia Wanger of Columbia Wanger Asset Management, Andreas Halvorsen of Viking Global Investors LP, PRIMECAP Management, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC.
Revenue from the sale of instruments increased $16.1 million, or 30%, to $69.9 million for Q2 2010 compared to $53.8 million for Q2 2009. The increase was due to a $17.4 million increase in sales of our sequencing systems, which was partially offset by a $1.3 million decrease in sales of our microarray systems. We experienced increases in both the number of units sold and average selling prices per unit for our sequencing systems during Q2 2010 compared to Q2 2009 due to increased demand for next generation sequencing systems and the launch of the HiSeq 2000 in Q1 2010.
Total other expense, net, decreased $0.2 million due to a $1.4 million increase in other income, net, which was partially offset by a $0.8 million decrease in interest income and a $0.4 million increase in interest expense. The increase in other income, net, was due to a $2.9 million gain recognized on the acquisition of Helixis, Inc., which represented the difference between the carrying value of our
Consumable revenue increased $40.1 million, or 20%, to $239.8 million for the first six months of 2010 compared to $199.7 million for the first six months of 2009. Microarray consumable revenue, which constituted more than half of our total consumable revenue, was relatively flat for the first six months of 2010 as compared to the first six months of 2009. Sales volume of our Infinium BeadChip products, which constituted a majority of our microarray consumable sales, increased on a sample basis during the first six months of 2010 compared to the first six months of 2009. The average selling price per sample, however, declined due to a change in product mix primarily attributable to growth in sales of our focused content arrays coupled with lower sales of whole-genome genotyping arrays and an increase in the average number of samples per BeadChip. Revenue from sequencing consumables increased $40.8 million due to growth in the installed base of our sequencing systems and customer labs ramping to production scale.
Revenue from the sale of instruments increased $22.9 million, or 22%, to $127.2 million for the first six months of 2010 compared to $104.3 million for the first six months of 2009 primarily due to an increase in sales of our sequencing systems. We experienced increases in both the number of units sold and average selling prices per unit for our sequencing systems during the first six months of 2010 compared to the first six months of 2009. The increase in units sold was due to increased demand for next generation sequencing systems. The increase in average selling prices was primarily attributable to the product transition from the Genome Analyzer II to the Genome Analyzer IIx in Q2 2009 and the launch of the HiSeq 2000 in Q1 2010.
The increase in research and development expenses was due to a $13.5 million increase in personnel expenses associated with the growth of our business and an increase in other non-personnel expenses of $8.0 million comprised mostly of lab and production supplies expenses.
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Illumina Inc. has a market cap of $5.61 billion; its shares were traded at around $46.04 with a P/E ratio of 54.7 and P/S ratio of 8.4. ILMN is in the portfolios of John Hussman of Hussman Economtrics Advisors, Inc., RS Investment Management, Chris Shumway of Shumway Capital Partners LLC, Columbia Wanger of Columbia Wanger Asset Management, Andreas Halvorsen of Viking Global Investors LP, PRIMECAP Management, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC.
Highlight of Business Operations:
Consumable revenue increased $29.2 million, or 30%, to $125.7 million for Q2 2010 compared to $96.5 million for Q2 2009. Microarray consumable revenue, which constituted more than half of our total consumable revenue, increased $8.7 million primarily attributable to growth in sales of focused content, custom and methylation arrays. This increase was partially offset by lower sales of whole-genome genotyping arrays primarily attributable to a single large order in Q2 2009. Sales volume of our Infinium BeadChip products, which constituted a majority of our microarray consumable sales, increased on a per sample basis during Q2 2010 compared to Q2 2009. The average selling price per sample, however, declined due to a change in product mix primarily attributable to growth in sales of our focused content arrays coupled with lower sales of whole-genome genotyping arrays and an increase in the average number of samples per BeadChip. Revenue from sequencing consumables increased $20.5 million due to growth in the installed base of our sequencing systems and customer labs ramping to production scale.Revenue from the sale of instruments increased $16.1 million, or 30%, to $69.9 million for Q2 2010 compared to $53.8 million for Q2 2009. The increase was due to a $17.4 million increase in sales of our sequencing systems, which was partially offset by a $1.3 million decrease in sales of our microarray systems. We experienced increases in both the number of units sold and average selling prices per unit for our sequencing systems during Q2 2010 compared to Q2 2009 due to increased demand for next generation sequencing systems and the launch of the HiSeq 2000 in Q1 2010.
Total other expense, net, decreased $0.2 million due to a $1.4 million increase in other income, net, which was partially offset by a $0.8 million decrease in interest income and a $0.4 million increase in interest expense. The increase in other income, net, was due to a $2.9 million gain recognized on the acquisition of Helixis, Inc., which represented the difference between the carrying value of our
Consumable revenue increased $40.1 million, or 20%, to $239.8 million for the first six months of 2010 compared to $199.7 million for the first six months of 2009. Microarray consumable revenue, which constituted more than half of our total consumable revenue, was relatively flat for the first six months of 2010 as compared to the first six months of 2009. Sales volume of our Infinium BeadChip products, which constituted a majority of our microarray consumable sales, increased on a sample basis during the first six months of 2010 compared to the first six months of 2009. The average selling price per sample, however, declined due to a change in product mix primarily attributable to growth in sales of our focused content arrays coupled with lower sales of whole-genome genotyping arrays and an increase in the average number of samples per BeadChip. Revenue from sequencing consumables increased $40.8 million due to growth in the installed base of our sequencing systems and customer labs ramping to production scale.
Revenue from the sale of instruments increased $22.9 million, or 22%, to $127.2 million for the first six months of 2010 compared to $104.3 million for the first six months of 2009 primarily due to an increase in sales of our sequencing systems. We experienced increases in both the number of units sold and average selling prices per unit for our sequencing systems during the first six months of 2010 compared to the first six months of 2009. The increase in units sold was due to increased demand for next generation sequencing systems. The increase in average selling prices was primarily attributable to the product transition from the Genome Analyzer II to the Genome Analyzer IIx in Q2 2009 and the launch of the HiSeq 2000 in Q1 2010.
The increase in research and development expenses was due to a $13.5 million increase in personnel expenses associated with the growth of our business and an increase in other non-personnel expenses of $8.0 million comprised mostly of lab and production supplies expenses.
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