DNA sequencing company Illumina Inc (NASDAQ:ILMN) disclosed on Tuesday its GAAP net income of USD199m (USD1.33 per diluted share) for the third quarter of fiscal year 2018.

This marks a rise in earnings when compared with GAAP net income of USD163m (USD1.11 per diluted share) for the third quarter of 2017

Revenue of USD853m were generated for the third quarter of fiscal year 2018, up 20% over revenue of USD714m in the third quarter of 2017

Research and development (R&D) expenses of USD159m were recorded for the third quarter of 2018, an increase from R&D of USD134m in the prior year period.