Illumina Reports Financial Results for Second Quarter of Fiscal Year 2020
Summary
Excluding amortization of acquired intangible assets and the net impact from payroll credits and expenses related to COVID-19, non-GAAP gross margin was 68.6% for the second quarter of 2020 compared to 69.5% in the prior year period. Our focus on innovation has established us as the global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical and applied markets. (b) Net cash provided by operating activities in Q2 2019 and the first half of 2019 included an $84 million payment of the accreted debt discount related to the conversions of our 2019 Notes. (e) Amounts represent discrete tax expense related to the finalization of the Altera court case which determined stock-based compensation must be included in intercompany cost sharing payments. (d) Amounts consist of direct and incremental expenses incurred due to the COVID-19 pandemic, primarily personal protective equipment and premium pay for onsite essential workers.
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