01—Abstract
Summary
Summary of the 10-K/A filed July 15, 2015. Cited figures are marked; the original filing is the authoritative source.
This filing is Amendment No. 1 on Form 10-K/A to Illumina, Inc.'s Annual Report for the fiscal year ended December 28, 2014, filed on July 15, 2015.
The amendment is an exhibit-only filing made solely to re-file Exhibit 10.27, the Pooled Patents Agreement between Illumina and Sequenom, Inc., dated December 2, 2014, with certain confidential portions omitted. It also includes new certifications by the principal executive and principal financial officers, Jay T. Flatley and Marc A.
Stapley, under Sections 302 and 906 of the Sarbanes-Oxley Act. The filing states that it makes no other changes to the Original Form 10-K filed on February 18, 2015, and does not update or amend any other items or disclosures, nor does it reflect subsequent events. The financial statements are incorporated by reference to the Original Form 10-K rather than included in this amendment.
According to the cover page, there were 143.8 million shares of common stock outstanding as of January 30, 2015, excluding 37.8 million shares held in treasury. The aggregate market value of common stock held by non-affiliates as of June 29, 2014 was $21.2 billiona. The common stock trades on The NASDAQ Global Select Market.
02—Key points
Key Highlights
- Form 10-K/A (Amendment No. 1) for the fiscal year ended December 28, 2014, filed July 15, 2015, to amend the Original Form 10-K filed February 18, 2015.
- Sole purpose is to re-file Exhibit 10.27, the Pooled Patents Agreement with Sequenom, Inc. dated December 2, 2014, with certain confidential portions omitted.
- The amendment is exhibit-only; the filing states no other items or disclosures in the Original Form 10-K were changed.
- New Section 302 and Section 906 certifications were included from CEO Jay T. Flatley and CFO Marc A. Stapley.
- Approximately 143.8 million common shares were outstanding as of January 30, 2015, excluding 37.8 million treasury shares.
- Non-affiliate aggregate market value was $21.2 billion as of June 29, 2014.
- Financial statements are not included in this amendment and remain in the Original Form 10-K.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2014, Illumina kept $0.19.
- Revenue$1.86B100.0%
- Cost of revenue−$563.6M30.3%
- Gross profit$1.30B69.7%
- Operating costs−$783.0M42.1%
- Operating income$514.7M27.7%
- Interest, other & tax−$161.4M8.7%
- Net income$353.4M19.0%
04—Financials
Financial Highlights
Figures from 10-K/AFY2014filed July 15, 2015Financial Statements
FY2014 against FY2013
| Line item | FY2014FY2013 | Change |
|---|---|---|
| Revenue | $1.86B$1.42B | +31.0% |
| Cost of Revenue | $563.65M$509.29M | +10.7% |
| Gross Profit | $1.30B$911.89M | +42.3% |
| R&D Expenses | $388.06M$276.74M | +40.2% |
| SG&A Expenses | $466.28M$381.04M | +22.4% |
| Operating Expenses | $783.00M$777.78M | +0.7% |
| Operating Income | $514.71M$134.11M | +283.8% |
| Interest Expense | $41.73M$39.69M | +5.1% |
| Net Income | $353.35M$125.31M | +182.0% |
| EPS (Basic) | $2.61$1.00 | +161.0% |
| EPS (Diluted) | $2.37$0.90 | +163.3% |
| Shares Outstanding (Basic) | 135.55M125.08M | +8.4% |
| Shares Outstanding (Diluted) | 148.98M139.94M | +6.5% |
05—Questions
Frequently Asked Questions
Why was this 10-K/A filed?
The filing states it was made solely to re-file Exhibit 10.27, the Pooled Patents Agreement between Illumina and Sequenom, Inc. dated December 2, 2014, with certain confidential portions omitted. New officer certifications were also included as required by SEC rules.
Does this amendment change Illumina's financial results or disclosures?
No. The filing states that no other changes have been made to the Original Form 10-K, that it does not amend, update or change any other items or disclosures, and that it does not reflect subsequent events.
What is the Sequenom agreement referenced in Exhibit 10.27?
Exhibit 10.27 is a Pooled Patents Agreement between Illumina and Sequenom, Inc., dated December 2, 2014. The filing identifies the agreement by title and date and notes that certain confidential portions have been omitted, but does not describe its terms.
Who signed the new certifications included with this amendment?
The certifications were provided by Jay T. Flatley, identified in the exhibit list as the principal executive officer, and Marc A. Stapley, identified as the principal financial officer, under Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002.
Where can investors find Illumina's full financial statements for fiscal 2014?
The filing states that the financial statements of Illumina, Inc. are included in the Original Form 10-K for the fiscal year ended December 28, 2014, filed February 18, 2015, and are not part of this amendment.
06—Continue