Illumina reported revenue of $953 million in fourth quarter revenue, a 10% year-over-year increase that also beat analyst expectations.
Analysts surveyed by Zacks Investment Research forecasted $944 million in sales.
The San Diego company – a titan of genomics – said net income came to $239 million, or $1.61 per share. Net income during the fourth quarter of 2018 was $210 million, or $1.41 per share, according to Illumina.
CEO Francis deSouza in a news release said Illumina shipped a record 2,400 DNA sequencing systems in 2019, and that the company strives to make the technology more accessible.
“Almost 17 years after the first human genome was sequenced, we believe that this is the decade that genomics becomes available to cancer and genetic disease patients on a mass scale and integrates into standard of care,” deSouza said.
This year the company expects revenue growth of 9% to 11%.