Il­lu­mi­na shares tank af­ter se­quenc­ing gi­ant falls short on rev­enue

Il­lu­mi­na CEO Fran­cis deS­ouza got to start off his new job with the un­en­vi­able task of pre-re­port­ing an ug­ly set of quar­ter­ly sales num­bers.

The ge­nom­ic se­quenc­ing gi­ant $ILMN record­ed a 26% de­cline in rev­enue from high through­put se­quenc­ing in­stru­ments, which matched the de­cline in its share val­ue as in­vestors got a chance to as­sess dis­ap­point­ing num­bers that fell well short of ex­pec­ta­tions.

Il­lu­mi­na came up with a pre­lim­i­nary pro­jec­tion of $607 mil­lion in third quar­ter sales, which al­so fell be­hind its own, ear­li­er pro­jec­tions of $625 to $630 mil­lion.

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