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Illumina CEO Says Business Is Bouncing Back


Dreamstime
Covid-19 lockdowns kept many scientists from their labs, and the interruption showed in the mid-2020 results of
Illumina,
the supplier of technology for reading the genetic code.
Illumina’s business has now bounced back, its chief executive, Francis deSouza, told an online audience at J.P. Morgan’s annual health-care conference on Monday. He said that December 2020 quarter revenue was $950 million, or roughly flat with the quarter a year ago. Analysts had expected less than $880 million. Earnings for the December quarter were $1.20 a share, adjusted for certain one-time charges, compared with expectations for $1.05 a share.
Revenue should grow by 17% to 20% in 2021, deSouza said, and produce 2021 year earnings between $5.10 and $5.35 a share (also adjusting away expected noncash charges). ....

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