UPDATE: Illumina Posts Higher Q4 Profit

Illumina ILMN reported a rise in its fourth-quarter profit. Illumina's quarterly net income surged to $72 million, or $0.53 per share, from $11.7 million, or $0.09 per share, in the year-ago period. Its revenue climbed 24% to $309.3 million. Excluding one-time items, it earned $0.42 per share. However, analysts were expecting a profit of $0.41 per share on revenue of $305.8 million. Illumina shares closed at $51.62 yesterday.