Illumina, Inc. (NASDAQ: ILMN)announced its financial results for the third quarter of fiscal year 2018. Revenue was $853 million, a 20% increased from $714 million a year prior. Research and development expenses increased to $159 million from $134 million a year ago.
Depreciation and amortization expenses were $46 million and capital expenditures for free cash flow purposes were $64 million during the third quarter of 2018. At the close of the quarter, the company held$3.4 billion in cash, cash equivalents and short-term investments, compared to $2.1 billion as of December 31, 2017.
“Illumina’s strong performance in the third quarter of 2018 reflected growth across our sequencing and arrays portfolios,” said Francis deSouza, President and CEO. “Sequencing system revenue of $138 million was the strongest since 2015, reflecting strong demand within our sequencing family from the NovaSeq, the most powerful and flexible sequencer ever, to the iSeq, our most accessible and easiest-to-use sequencer.”
The company expects revenue growth of 20%.