Illumina Q3 2021 Earnings Report
Key Takeaways
Illumina reported strong financial results for the third quarter of fiscal year 2021, with revenue of $1,108 million, a 40% increase compared to the prior year period. GAAP net income was $317 million, or $2.08 per diluted share, and non-GAAP net income was $221 million, or $1.45 per diluted share.
Revenue of $1,108 million, a 40% increase compared to the prior year period
GAAP net income for the quarter of $317 million, or $2.08 per diluted share, which included a $900 million gain from our previously held investment in GRAIL and $654 million in day one compensation expense related to the GRAIL acquisition.
Non-GAAP net income for the quarter of $221 million, or $1.45 per diluted share, which included dilution from GRAIL non-GAAP operating loss of $0.19 per diluted share and incremental dilution from the 9.8 million shares issued to fund the GRAIL acquisition of $0.06 per diluted share.
The company held $1.3 billion in cash, cash equivalents and short-term investments.
Illumina
Illumina
Forward Guidance
For fiscal 2021, the company now expects both consolidated and Core Illumina revenue growth of approximately 36%. The company now expects GAAP earnings per diluted share of $4.41 to $4.51, and non-GAAP earnings per diluted share of $5.50 to $5.60, which includes dilution from GRAIL non-GAAP operating loss of approximately $1.00 and incremental dilution from the 9.8 million shares issued to fund the GRAIL acquisition of $0.15.