Exhibit 99.1

Illumina Reports Financial Results for Fourth Quarter and Fiscal Year 2010

San Diego, Calif., February 8, 2011 — Illumina, Inc. (NASDAQ:ILMN) today announced its financial results for the fourth quarter and fiscal year of 2010.

Fourth quarter 2010 results:

	•		Revenue of $261.3 million, a 45% increase over the $180.6 million reported in the fourth quarter of 2009.
	•		GAAP net income of $38.4 million, or $0.25 per diluted share, compared to net income of $11.7 million, or $0.09 per diluted share, for the fourth quarter of 2009.
	•		Non-GAAP net income of $40.9 million, or $0.29 per diluted share, compared to $27.0 million, or $0.21 per diluted share, for the fourth quarter of 2009 (see the table entitled “An Itemized Reconciliation Between GAAP and Non-GAAP Net Income” for a reconciliation of these GAAP and non-GAAP financial measures).

Gross margin in the fourth quarter of 2010 was 63.6% compared to 69.5% in the comparable period of 2009. Excluding the effect of non-cash charges associated with stock compensation and the amortization of intangibles, non-GAAP gross margin was 65.1% for the fourth quarter of 2010 compared to 71.2% in the prior year period.

Research and development (R&D) expenses for the fourth quarter of 2010 were $45.8 million compared to $40.4 million in the fourth quarter of 2009. R&D expenses included $7.0 million and $5.6 million of non-cash stock compensation expense in the fourth quarter of 2010 and 2009, respectively. R&D expenses in both periods also included $0.9 million of accrued contingent compensation. Excluding these charges, R&D expenses as a percentage of revenue were 14.4% compared to 18.8% in the prior year period.

Selling, general, and administrative (SG&A) expenses for the fourth quarter of 2010 were $62.0 million compared to $49.5 million for the fourth quarter of 2009. SG&A expenses included $11.3 million and $9.6 million of non-cash stock compensation expense in the fourth quarter of 2010 and 2009, respectively. Excluding these charges, SG&A expenses as a percentage of revenue were 19.4% compared to 22.1% in the prior year period.

The company generated $81.5 million in cash flow from operations during the fourth quarter of 2010 compared to $61.3 million in the prior year period. Depreciation and amortization expenses were $12.1 million and capital expenditures were $12.4 million during the fourth quarter. The company ended the fourth quarter with $894.3 million in cash and short-term investments compared to $806.8 million as of October 3, 2010 and $693.5 million as of January 3, 2010.

Fiscal 2010 results:

	•		Revenue of $902.7 million, a 35% increase over the $666.3 million reported in fiscal 2009.
	•		GAAP net income of $124.9 million, or $0.87 per diluted share, compared to $72.3 million or $0.53 per share in fiscal 2009.
	•		Non-GAAP net income of $142.2 million, or $1.06 per diluted share, compared to $104.2 million, or $0.80 per diluted share, in fiscal 2009 (see the table entitled “An Itemized Reconciliation Between GAAP and Non-GAAP Net Income” for a reconciliation of these GAAP and non-GAAP financial measures).

Gross margin for fiscal 2010 was 66.6% compared to 68.1% in fiscal 2009. Excluding the effect of non-cash charges associated with stock compensation and the amortization of intangibles, non-GAAP gross margin was 68.1% in fiscal 2010 compared to 69.9% in fiscal 2009.

R&D expenses for fiscal 2010 were $177.9 million compared to $140.6 million in fiscal 2009. R&D expenses for fiscal 2010 included non-cash stock compensation expense of $25.4 million compared to $20.0 million in fiscal 2009. R&D expenses in both periods included $3.7 million of accrued contingent compensation and in fiscal 2009 included $2.0 million of acquired research and development. Excluding these charges, R&D expenses as a percentage of revenue were 16.5% compared to 17.3% in fiscal 2009.

SG&A expenses for fiscal 2010 were $221.0 million compared to $176.3 million in fiscal 2009. SG&A expenses included $40.4 million and $35.6 million of non-cash stock compensation expense in fiscal 2010 and 2009, respectively. SG&A expenses in fiscal 2010 also included $0.5 million of acquisition related transaction expense. Excluding these charges, SG&A expenses as a percentage of revenue were 19.9% compared to 21.1% in fiscal 2009.

The company generated $272.6 million in cash from operations in fiscal 2010 compared to $172.2 million in fiscal 2009. Depreciation and amortization expenses for fiscal 2010 were $42.6 million and capital expenditures were $49.8 million.

Highlights since our last earnings release:

•		Announced MiSeq, a low-cost personal sequencing system that is capable of beginning with purified DNA and ending with analyzed data in as few as eight hours, or generating in excess of 1 gigabase per run in just over a day.
•		Completed the acquisition of Epicentre Biotechnologies, a leading provider of nucleic acid sample preparation reagents and specialty enzymes used in sequencing and microarray applications.
•		Launched the TruSeq sample preparation kits for DNA, RNA, and small RNA applications and the TruSeq Exome Enrichment Kit, for use across the company’s portfolio of sequencing platforms.
•		Launched the next generation of iSelect custom genotyping products that allow researchers to design custom arrays containing from 3,000 up to 1,000,000 markers, with the flexibility to add supplemental content to their array designs.
•		Entered into a lease agreement to relocate the company’s corporate headquarters to a larger facility in San Diego with an expected commencement date in Q4 2011.
•		Received ISO 13485 certification in our San Diego, Chesterford and Singapore facilities.

Financial outlook and guidance

The non-GAAP financial guidance discussed below excludes the following items (see the table entitled “Reconciliation of Non-GAAP Financial Guidance” for a reconciliation of these GAAP and non-GAAP financial measures):

•

Charges associated with relocating the company’s corporate headquarters including an estimated non-cash charge related to a cease-use loss to account for the remaining

			lease payments on the company’s current headquarters reduced by estimated sublease proceeds, accelerated depreciation on existing leasehold improvements abandoned upon the relocation to the new facility, and anticipated double rent expense incurred during the transition to the new facility.
	•		Incremental non-cash interest expense associated with the company’s convertible debt instruments that may be settled in cash and the double dilution associated with the accounting treatment of the company’s outstanding convertible debt and the corresponding call option overlay.
	•		Amortization expense related to intangible assets.
	•		In-process research and development and contingent compensation expense.

The company expects:

	•		Revenue growth for fiscal 2011 of approximately 20% from fiscal 2010 revenue of $902.7 million.
	•		Gross margin to improve over the course of the year to approximately 70% for the full year.
	•		Non-GAAP earnings per diluted share to grow more than 30% from 2010 non-GAAP earnings per diluted share of $1.06.
	•		Stock compensation expense of approximately $101 million or a tax adjusted amount of $0.49 per fully diluted pro forma share.
	•		Full-year weighted-average diluted shares outstanding for the measurement of pro forma results of approximately 145 million.

Quarterly conference call information

The conference call will begin at 2:30pm Pacific Time (5:30pm Eastern Time) on Tuesday, February 8, 2011. Interested parties may listen to the call by dialing 800.561.2813 (passcode: 53294883), or if outside North America, by dialing +1.617.614.3529 (passcode: 53294883). Individuals may access the live teleconference in the Investor Relations section of Illumina’s web site under the “Company” tab at www.illumina.com.

A replay of the conference call will be available from 6:30pm Pacific Time (9:30pm Eastern Time) on February 8, 2011 through February 15, 2011 by dialing 888.286.8010, or if outside North America, by dialing +1.617.801.6888 (passcode: 87212455).

Statement regarding use of non-GAAP financial measures

The company reports non-GAAP results for diluted net income per share, net income, gross margins, operating margins, other income, and free cash flow in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.

The company’s financial measures under GAAP include substantial non-cash and other charges related to stock compensation expense, the impairment of a cost-method investment, a gain recorded for the change in fair value of contingent consideration, expenses related to our new lease, including a cease use loss, accelerated depreciation, and anticipated double rent expense, incremental interest expense associated with the company’s convertible debt instruments that may be settled in cash, a gain on the acquisition of an investee accounted for using the cost method of accounting prior to acquisition, amortization expense related to intangible assets, in-process research and development and contingent compensation expense, acquisition related transaction expenses, expense related to acquired research and development, and a gain on the extinguishment of debt. Per share amounts also include the double dilution associated with the accounting treatment of the company’s convertible debt outstanding and the corresponding call option overlay. Management believes that presentation of operating results that excludes these charges and per share double dilution provides useful supplemental information to investors and facilitates the analysis of the company’s core operating results and comparison of operating results across reporting periods. Management also believes that this supplemental non-GAAP information is therefore useful to investors in analyzing and assessing the company’s past and future operating performance.

The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP results are presented in the tables of this release.

Use of forward looking statements

This release contains projections, information about our financial outlook, earnings guidance, and other forward-looking statements that involve risks and uncertainties. These forward-looking statements are based on our expectations as of the date of this release and may differ materially from actual future events or results. Among the important factors that could cause

actual results to differ materially from those in any forward-looking statements are (i) our ability to develop and commercialize further our BeadArray™, VeraCode ®, and Solexa® technologies and to deploy new sequencing, gene expression, and genotyping products and applications for our technology platforms, (ii) our ability to increase our manufacturing capacity and produce robust instrumentation and reagents, and (iii) reductions in the funding levels to our primary customers, including as a result of the timing and amount of funding provided by the American Recovery and Reinvestment Act of 2009, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current financial quarter.

About Illumina

Illumina (www.illumina.com) is a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function. We provide innovative sequencing and array-based solutions for genotyping, copy number variation analysis, methylation studies, gene expression profiling, and low-multiplex analysis of DNA, RNA and protein. We also provide tools and services that are fueling advances in consumer genomics and diagnostics. Our technology and products accelerate genetic analysis research and its application, paving the way for molecular medicine and ultimately transforming healthcare.

###

CONTACT:

Investors:		Peter J. Fromen Senior Director Investor Relations 858-202-4507 pfromen@illumina.com		Media:		Wilson Grabill Senior Manager Public Relations 858-882-6822 wgrabill@illumina.com

Illumina, Inc.
Condensed Consolidated Balance Sheets
(In thousands)

		January 2, 2011				January 3, 2010
		(unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	248,947			$	144,633
Short-term investments			645,342				548,894
Accounts receivable, net			165,598				157,751
Inventory, net			142,211				92,776
Deferred tax assets, current portion			19,378				20,021
Prepaid expenses and other current assets			36,922				17,515
Total current assets			1,258,398				981,590
Property and equipment, net			129,874				117,188
Goodwill			278,206				213,452
Intangible assets, net			70,024				43,788
Deferred tax assets, long-term portion			39,497				47,371
Other assets			63,114				26,548
Total assets		$	1,839,113			$	1,429,937
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	66,744			$	52,781
Accrued liabilities			156,164				98,253
Long-term debt, current portion			311,609				290,202
Total current liabilities			534,517				441,236
Other long-term liabilities			28,531				24,656
Conversion option subject to cash settlement			78,390				99,797
Stockholders’ equity			1,197,675				864,248
Total liabilities and stockholders’ equity		$	1,839,113			$	1,429,937

Illumina, Inc.
Condensed Consolidated Statements of Income
(In thousands, except per share amounts)
(unaudited)

		Three Months Ended								Years Ended
		January 2,				January 3,				January 2,				January 3,
		2011				2010				2011				2010
Revenue:
Product revenue		$	245,626			$	167,532			$	842,510			$	627,240
Service and other revenue			15,672				13,032				60,231				39,084
Total revenue			261,298				180,564				902,741				666,324
Cost of Revenue:
Cost of product revenue (a)			87,183				48,337				271,997				190,714
Cost of service and other revenue (a)			5,694				5,031				21,399				15,055
Amortization of intangible assets			2,295				1,670				7,805				6,680
Total cost of revenue			95,172				55,038				301,201				212,449
Gross profit			166,126				125,526				601,540				453,875
Operating Expenses:
Research and development (a)			45,800				40,368				177,947				140,616
Selling, general and administrative (a)			62,034				49,471				220,990				176,337
Acquisition related (gain) expense, net			(10,376	)			10,000				(9,051	)			11,325
Total operating expenses			97,458				99,839				389,886				328,278
Income from operations			68,668				25,687				211,654				125,597
Other expense, net			(17,886	)			(3,399	)			(26,275	)			(11,472	)
Income before income taxes			50,782				22,288				185,379				114,125
Provision for income taxes			12,342				10,583				60,488				41,844
Net income		$	38,440			$	11,705			$	124,891			$	72,281
Net income per basic share		$	0.31			$	0.10			$	1.01			$	0.59
Net income per diluted share		$	0.25			$	0.09			$	0.87			$	0.53
Shares used in calculating basic net income per share			125,876				122,818				123,581				123,154
Shares used in calculating diluted net income per share			151,171				136,095				143,433				137,096

		Three Months Ended								Years Ended
		January 2,				January 3,				January 2,				January 3,
		2011				2010				2011				2010
Cost of product revenue		$	1,508			$	1,160			$	5,378			$	4,776
Cost of service and other revenue			76				117				470				514
Research and development			6,977				5,571				25,428				19,960
Selling, general and administrative			11,279				9,629				40,369				35,561
Stock-based compensation expense before taxes		$	19,840			$	16,477			$	71,645			$	60,811

Illumina, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(unaudited)

		Three Months Ended								Years Ended
		January 2,				January 3,				January 2,				January 3,
		2011				2010				2011				2010
Net cash provided by operating activities		$	81,481			$	61,290			$	272,573			$	172,191
Net cash (used in) provided by investing activities			(70,056	)			15,553				(285,053	)			(256,569	)
Net cash provided by (used in) financing activities			26,543				(171,149	)			116,474				(98,862	)
Effect of exchange rate changes on cash and cash equivalents			212				411				320				849
Net increase (decrease) in cash and cash equivalents			38,180				(93,895	)			104,314				(182,391	)
Cash and cash equivalents, beginning of period			210,767				238,528				144,633				327,024
Cash and cash equivalents, end of period		$	248,947			$	144,633			$	248,947			$	144,633
Calculation of free cash flow (a):
Net cash provided by operating activities		$	81,481			$	61,290			$	272,573			$	172,191
Purchases of property and equipment			(12,384	)			(6,385	)			(49,818	)			(52,673	)
Free cash flow		$	69,097			$	54,905			$	222,755			$	119,518

Illumina, Inc.
Results of Operations — Non-GAAP
(In thousands, except per share amounts)
(unaudited)

		Three Months Ended								Years Ended
		January 2,				January 3,				January 2,				January 3,
		2011				2010				2011				2010
AN ITEMIZED RECONCILIATION BETWEEN GAAP AND NON-GAAP NET INCOME PER SHARE:
GAAP net income per share — diluted		$	0.25			$	0.09			$	0.87			$	0.53
Pro forma impact of weighted average shares			0.01				—				0.06				0.03
Adjustments to net income:
Losses (gains) in other expense, net (a)			0.09				—				0.08				(0.01	)
Acquisition related (gain) expense, net (b)			(0.07	)			0.08				(0.07	)			0.09
Non-cash interest expense (c)			0.04				0.04				0.16				0.15
Amortization of intangible assets			0.02				0.01				0.06				0.05
Other pro forma adjustments (d)			0.01				0.01				0.03				0.04
Incremental non-GAAP tax expense (e)			(0.06	)			(0.02	)			(0.13	)			(0.08	)
Non-GAAP net income per share — diluted (f)		$	0.29			$	0.21			$	1.06			$	0.80
Shares used in calculating non-GAAP diluted net income per share			140,080				129,698				134,375				130,599
AN ITEMIZED RECONCILIATION BETWEEN GAAP AND NON-GAAP NET INCOME:
GAAP net income		$	38,440			$	11,705			$	124,891			$	72,281
Losses (gains) in other expense, net (a)			13,223				—				10,309				(767	)
Acquisition related (gain) expense, net (b)			(10,376	)			10,000				(9,051	)			11,325
Non-cash interest expense (c)			5,363				5,331				20,832				19,656
Amortization of intangible assets			2,295				1,670				7,805				6,680
Other pro forma adjustments (d)			919				919				4,211				5,675
Incremental non-GAAP tax expense (e)			(9,014	)			(2,598	)			(16,813	)			(10,675	)
Non-GAAP net income (f)		$	40,850			$	27,027			$	142,184			$	104,175

Illumina, Inc.
Results of Operations — Non-GAAP (continued)
(unaudited)

AN ITEMIZED RECONCILIATION BETWEEN GAAP AND NON-GAAP RESULTS OF OPERATIONS AS A PERCENT OF REVENUE:

		Three Months Ended																Years Ended
		January 2, 2011								January 3, 2010								January 2, 2011								January 3, 2010
GAAP gross profit		$	166,126				63.6	%		$	125,526				69.5	%		$	601,540				66.6	%		$	453,875				68.1	%
Stock-based compensation expense			1,584				0.6	%			1,277				0.7	%			5,848				0.6	%			5,290				0.8	%
Amortization of intangible assets			2,295				0.9	%			1,670				0.9	%			7,805				0.9	%			6,680				1.0	%
Non-GAAP gross profit		$	170,005				65.1	%		$	128,473				71.2	%		$	615,193				68.1	%		$	465,845				69.9	%
Research and development expense		$	45,800				17.5	%		$	40,368				22.4	%		$	177,947				19.7	%		$	140,616				21.1	%
Stock-based compensation expense			(6,977	)			(2.7	%)			(5,571	)			(3.1	%)			(25,428	)			(2.8	%)			(19,960	)			(3.0	%)
Compensation Expense (a)			(919	)			(0.4	%)			(919	)			(0.5	%)			(3,675	)			(0.4	%)			(3,675	)			(0.6	%)
Acquired research and development			—				—				—				—				—				—				(2,000	)			(0.3	%)
Non-GAAP research and development expense		$	37,904				14.4	%		$	33,878				18.8	%		$	148,844				16.5	%		$	114,981				17.3	%
Selling, general and administrative expense		$	62,034				23.7	%		$	49,471				27.4	%		$	220,990				24.5	%		$	176,337				26.5	%
Stock-based compensation expense			(11,279	)			(4.3	%)			(9,629	)			(5.3	%)			(40,369	)			(4.5	%)			(35,561	)			(5.3	%)
Transaction expense related to acquisition			—				—				—				—				(536	)			(0.1	%)			—				—
Non-GAAP selling, general and administrative expense		$	50,755				19.4	%		$	39,842				22.1	%		$	180,085				19.9	%		$	140,776				21.1	%
GAAP operating profit		$	68,668				26.3	%		$	25,687				14.2	%		$	211,654				23.4	%		$	125,597				18.8	%
Stock-based compensation expense			19,840				7.6	%			16,477				9.1	%			71,645				7.9	%			60,811				9.1	%
Acquisition related (gain) expense, net (b)			(10,376	)			(4.0	%)			10,000				5.5	%			(9,051	)			(1.0	%)			11,325				1.7	%
Amortization of intangible assets			2,295				0.9	%			1,670				0.9	%			7,805				0.9	%			6,680				1.0	%
Other pro forma adjustments (c)			919				0.4	%			919				0.5	%			4,211				0.5	%			5,675				0.9	%
Non-GAAP operating profit (d)		$	81,346				31.3	%		$	54,753				30.3	%		$	286,264				31.7	%		$	210,088				31.5	%
GAAP other expense, net		$	(17,886	)			(6.8	%)		$	(3,399	)			(1.9	%)		$	(26,275	)			(2.9	%)		$	(11,472	)			(1.7	%)
Losses (gains) in other expense, net (f)			13,223				5.1	%			—				0.0	%			10,309				1.1	%			(767	)			(0.1	%)
Non-cash interest expense (e)			5,363				2.1	%			5,331				3.0	%			20,832				2.3	%			19,656				2.9	%
Non-GAAP other income, net (d)		$	700				0.3	%		$	1,932				1.1	%		$	4,866				0.5	%		$	7,417				1.1	%

Illumina, Inc.
Reconciliation of Non-GAAP Financial Guidance

The financial guidance provided below assumes an estimated non-GAAP diluted net income per share of $1.40 and is based on information available as of February 8, 2011. The company’s future performance and financial results are subject to risks and uncertainties, and actual results could differ materially from the guidance set forth below. Some of the factors that could affect the company’s financial results are stated above in this press release. More information on potential factors that could affect the company’s financial results is included from time to time in the company’s public reports filed with the SEC, including the company’s Form 10-K for the fiscal year ended January 3, 2010, the company’s Form 10-Q for the fiscal quarters ended April 4, 2010, July 4, 2010 and October 3, 2010 and the company’s Form 10-K for the fiscal year ended January 2, 2011 to be filed with the SEC. The company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

		Diluted net income per share
Fiscal Year 2011
Non-GAAP		$	1.40
Lease related expenses(a)		$	(0.18	)
Non-cash interest expense (b)		$	(0.09	)
Pro forma impact of weighted average shares (c)		$	(0.06	)
Amortization of intangible assets		$	(0.04	)
Other non-GAAP adjustments (d)		$	(0.02	)
GAAP		$	1.01