Illumina, Inc. (ILMN, Financial) is the leading manufacturer of instruments and consumables used by scientists engaged in researching applications for 'next generation' DNA sequencing. Illumina's products have been at the forefront of huge recent advances in technology that have brought the cost of sequencing a human genome from roughly $1 billion 23 years ago, when the Human Genome Project was launched, to $3,000 today (and still declining rapidly). The company reported quarterly revenue and earnings growth ahead of Wall Street estimates, driven by strength across its entire product portfolio.We believe these results were driven by both growing end markets and market share gains, which may have accelerated after the company's main competitor announced it was considering selling itself.
From the Baron Funds’ second quarter 2013 commentary.
From the Baron Funds’ second quarter 2013 commentary.
