(ILMN) - Illumina, Inc. - exceeded earnings estimates in 11 out of the past 12 quarters. Four of them had positive surprises over 100%

Illumina has exceeded earnings estimates in 11 out of the past 12 quarters. Four of them had positive surprises over 100%. Six analysts have raised their forecasts for this year, while five have done so for next year. Over the past 30 days, this year's estimates have soared 55% to 76 cents per share. Full Analysis Illumina, Inc. (ILMN) engages in the development and marketing of tools for the analysis of genetic variation and function primarily in the United States and internationally. Its single nucleotide polymorphism (SNP) genotyping product comprises Sentrix Array Matrix, which uses a universal format that allows it to analyze various sets of SNPs. The company also offers BeadLabs and BeadStations principally for gene expression profiling; BeadArray Reader, a scanning instrument that uses a laser to read the results of experiments that are captured in its instruments; and oligos, which are components of the reagent kits for its BeadArray products and are used for assay development. ILMN swung to a third-quarter profit and raised 2006 guidance last week. Illumina's quarterly profit of $16.2 million, or 32 cents per share, and $53.5 million in sales beat Wall Street expectations, prompting the San Diego-based company to raise its fiscal 2006 outlook. Analysts only expected 16 cents. This was the third straight quarter with a big surprise and a guidance increase. Also, Illumina reported total revenue of $53.5 million, a 174% increase over the $19.5 million reported in the third quarter of 2005 and a 29% increase over the $41.6 million reported in the second quarter of 2006. This represents the Company's 21st consecutive quarter of revenue growth. The combined gross margin for product and services was 69.3% in the third quarter of 2006, compared to 65.3% in the third quarter of 2005. For the third quarter of 2006, excluding the effect of non-cash stock compensation expense, the combined gross margin of product and services would have been 70.1%. It is an excellent sign that gross margins are rising for the company. The company has exceeded earnings estimates in 11 out of the past 12 quarters. Four of them had positive surprises over 100%. Six analysts have raised their forecasts for this year, while five have done so for next year. Over the past 30 days, this year's estimates have soared 55% to 76 cents per share. The stock is trading at 39.8x next year's estimates of $1.12 per share, above the long-term growth rate of 22%, giving it a PEG ratio of 1.81. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home