One of my favorite Emerging Growth stocks, Illumina (ILMN) is surging higher in today’s trading. The company is involved in genetic testing and its business has been red-hot lately (here’s a great profile of Illumina from Wall Strip).
After the bell yesterday, Illumina reported fourth-quarter earnings of 22 cents a share and sales jumped 43% to $160.9 million. That was far higher than Wall Street’s consensus which was looking for earnings of 17 cents a share and sales of $154.6 million.
The company also gave very strong guidance. For the first quarter, Illumina said to expect earnings-per-share between 23 cents and 26 cents, and sales between $158 million and $164 million. Wall Street was expecting just 19 cents on sales of $160.6 million.
For all of 2009, Illumina said to expect EPS between $1.10 and $1.20, and sales between $690 million and $720 million.