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Illumina Inc. Message Board

  • arraytee arraytee May 29, 2004 1:35 AM Flag

    Notable change in recent SEC filings

    Just caught an interesting change in the 'Risks' sections of ILMN's quarterly SEC filings. All of the filings from the company's IPO through end of 2003 give this standard statement of risk:

    "We are highly dependent on our management and scientific personnel. The loss of their services could adversely impact our ability to achieve our business objectives."

    However, in the two 2004 filings to far, this section is modified as follows:

    "We are highly dependent on our management and scientific personnel, including Jay Flatley, our president and chief executive officer, David Barker, our vice president and chief scientific officer, and John Stuelpnagel, our senior vice president of operations. The loss of their services could adversely impact our ability to achieve our business objectives."

    These filings are written very carefully, because investors rely on them for what little 'inside information' they can get. Why specify the names of three individuals now? IMHO- all three are considering leaving. It's the only reason that makes sense.

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    • Excellent update Cash - Thanks!

      Value Line is up on lots of quality radar screens.

      As I suspected, on target and growing revenue, partnerships, etc.

      Love the see the add'l funding as well
      in the space.

      One day we'll be able to look back and appreciate that we once owned Illumina when it was back in the single digits.

      IMHO double digits within 1 yr (barring some buyout before that time).

      Long and Strong ILMN

    • Many thanx!

    • Thought you guys might enjoy reading the recent ValueLine (if you haven't already done so):

      On the back of strengthening sales and growing acceptance of its products, Illumina is striding closer to profitability. Demand for the company's genomic research systems, BeadLab and BeadStation, which allow users to incorporate fiber-optics into their research, continue to pick up steam. New orders from major academic and commercial facilities have, for this year, been running well above last year's level. Although the company will likely close out 2004 in the red, we look for earnings of $0.15 a share next year.

      Expansion of the International HapMap Project should yield further revenue advances. Many components of the project, a consortium of scientific research teams from around the world aimed at using genomics research to cure diseases, rely on the company's products for their work. Also, the National Institutes of Health has authorized an additional $6.5 million in HapMap funding. Consequently, Illumina is likely to see further top-line advances, as the growing scope of the HapMap program will require more of the company's genetic analysis systems.

      Elsewhere, Illumina raised $30 million via a new stock offering. In May, the company sold 4.5 million shares to institutional investors, increasing its share count by about 14%. This move will give the company the added financial flexibility needed to take on continued growth projects. Although Illumina will deploy some of the proceeds during the remainder of 2004, we look for working capital to jump to about $50 million by yearend.

      Shares of Ilumina are ranked 2 (Above Average) for year-ahead performance. Investment here, however, is still suited only for speculative accounts. Although we do think the company will be profitable by the end of 2005, many other firms are working to produce similar technologies that might challenge Illumnia's platforms. Still, should the company stay on course, the issue offers intriguing appreciation potential to 2007-2009.

      William C. Lewittes June 4, 2004

    • Rocketship!!!!

    • Decent volume so far.

      More testing units being sold and installed
      as we speak.

      Rah rah...

      Eager for the next round of earnings announcements for this qtr.

      Long and Strong ILMN.

    • Nice to see we hit $7.

      The right direction, eh?

      Go to your seperate corners now?

      Bon weekend!

      Go Smarty (Jones) Go!!

    • YFW: Thanks for that. I'm comfortable ending this discussion with your statement that the quote came from an "unnamed source" at ILMN.

    • It came to me personally from someone in the company. I will confirm that much.

    • YFW: I respect your tenacity. Please just let me know: Did your quote come to you personally from the IR person at ILMN? Thanks.

    • "you'll find that your persona was created on Yahoo on 7/27/00. One day before ILMN's IPO and five days before this Board was created."

      Incredible. You see wheels inside wheels. You are a scary individual. Okay, I can help you here. I didn't consider ILMN until the last 8 months It attracted my attention when I thumbed through a Value Line and it happened to be in an area related to one I had been monitoring for investment options (Human Genome). Naturally, I monitored the stock and collected information on the company. Wouldn't have considered it in 00. I like companies that are on the cusp of profitability with good long term growth prospects.

      "your characterization of those fleeing toward America as, "refuse.""

      Not at all. Members of most families in America were once in that basket, but they came here legally. You're not making sense.

      No anybody can come up with speculation. I would like you ... or anyone else interested to verify the informtion I posted. Our point of contention is insinuating I made it up, invented it or it was my personal opinion. Your analysis stinks because the obvious action is to verify what was posted. Yes, I could "verify" it, but I would appreciate someone else independently verify what I post or at least corroborate it.

      Yes, I am long ILMN, but thought your earlier speculation worthy of withholding comment until I could come up with something other than more speculation. I'm asking someone else to contribute without assuming a poster is trying to mislead or lie when they are not. Are you getting this yet?

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