San Diego-based Illumina, the maker of genetic analysis tools for biologists, said today that its second-quarter sales fell short of the company’s forecast. Illumina (NASDAQ: [[ticker:ILMN]]), in a preliminary, unaudited financial review, said it expects to report $161 million in second quarter sales—less than the $168 to $173 million it expected. It blamed the shortfall on reduced research funding from foundations, and delays as customers wait to see how their budgets are affected by the federal stimulus package.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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