Illumina, Inc. · NASDAQ:ILMN

Illumina — Q2 2017 Earnings Presentation

13 slides from Illumina's earnings presentation, Aug 1, 2017

  1. Slide 1: Illumina Q2 2017 Financial Results

    Illumina Q2 2017 Financial Results August 1, 2017 © 2017 Illumina, Inc. All rights reserved.

  2. Slide 2: Safe Harbor Statement

    Safe Harbor Statement This communication may contain forward-looking statements that involve risks and uncertainties, such as Illumina’s expectations regarding its financial outlook and guidance for fiscal 2017 and the launch of any products. Among the important factors that could cause actual resul

  3. Slide 3: Q2 2017 Overview

    Q2 2017 Overview Revenue and Non-GAAP EPS exceeded expectations $ in millions, except % and per share data (non-GAAP)1 Q2’17 Q2’16 Δ Revenue $662.4 $600.1 10% Gross Margin 67.0% 72.4% (540 bps) Operating Margin2 22.1% 27.2% (510 bps) EPS3 $0.82 $0.86 (5%) ● Sequencing consumables and microarrays dro

  4. Slide 4: Q2 2017 Revenue Growth Rates

    Q2 2017 Revenue Growth Rates Growth across the majority of our product portfolio Q2 YoY% Sequencing1 Microarray1 Total Instruments 9% N/M2 8% Consumables 9% (7%) 6% Service and Other 13% 93% 32% Total 9% 16% 10% ● Consumables accounted for 61% of total revenue ● Microarray revenue was approximately

  5. Slide 5: Q2 2017 Consolidated Non-GAAP P&L

    Q2 2017 Consolidated Non-GAAP P&L $ in millions, except % and per share data (non-GAAP)1 Q2’17 Q2’16 Δ Revenue $662.4 $600.1 10% Gross Profit $443.7 $434.3 2% R&D Expense $130.4 $124.5 5% SG&A Expense $166.6 $146.4 14% Operating Income $146.6 $163.4 (10%) Tax Rate 25.1% 25.7% (60 bps) Consolidated N

  6. Slide 6: Balance Sheet / Cash Flow

    Balance Sheet / Cash Flow Strong cash position $ in millions, except DSO Q2’17 Q1’17 Cash & Investments $1,893.1 $1,777.8 Inventory $309.2 $298.8 Accounts Receivable (DSO) $371.9 (51) $368.4 (56) Principal Amount of Convertible Notes Outstanding $1,150.0 $1,150.0 Operating Cash Flow $177.6 $168.0 Fr

  7. Slide 7: 2017 Guidance

    2017 Guidance Updated FY’17 revenue growth outlook 20171 Revenue1 ~12% GAAP EPS2,3 $5.36 - $5.46 Non-GAAP EPS2,3 $3.60 - $3.70 1. Guidance given via 8-k and press release on August 1, 2017; assumes constant currency rates from August 1, 2017 7 2. Includes $0.18 of dilution from Helix 3. Attributable

  8. Slide 8: Appendix: Non-GAAP Reconciliations

    Appendix Non-GAAP Reconciliations 8

  9. Slide 9: Reconciliation Between GAAP and Non-GAAP Earnings Per Share and Net Income

    Reconciliation Between GAAP and Non-GAAP Earnings Per Share and Net Income Attributable to Illumina Stockholders: Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, 2017 2016 2017 2016 GAAP earnings per share attributable to Illumina stockholders - diluted $ 0.87 $ 0.82 $ 3.35 $ 1.4

  10. Slide 10: Footnotes to the Reconciliation Between GAAP and Non-GAAP Measures

    Footnotes to the Reconciliation Between GAAP and Non- GAAP Measures: All amounts in tables are rounded to the nearest millions, except as otherwise noted. As a result, certain amounts may not recalculate using the rounded amounts provided. (a) Non-cash interest expense is calculated in accordance wi

  11. Slide 11: Reconciliation Between GAAP and Non-GAAP Results of Operations as a Percent of Revenue

    Reconciliation Between GAAP and Non-GAAP Results of Operations as a Percent of Revenue: Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, 2017 2016 2017 2016 GAAP gross profit $ 434 65.5 % $ 424 70.6 % $ 802 63.6 % $ 821 70.0 % Amortization of acquired intangible asset 10 1.5 % 10

  12. Slide 12: Footnotes to the Reconciliation Between GAAP and Non-GAAP Results of Operations

    Footnotes to the Reconciliation Between GAAP and Non- GAAP Results of Operations: All amounts in tables are rounded to the nearest millions, except as otherwise noted. As a result, certain amounts may not recalculate using the rounded amounts provided. (a) Non-GAAP gross profit, included within non-

  13. Slide 13: Reconciliation of Non-GAAP Financial Guidance

    Reconciliation of Non-GAAP Financial Guidance The company’s future performance and financial results are subject to risks and uncertainties, and actual results could differ materially from the guidance set forth below. More information on potential factors that could affect the company’s financial r

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