Illumina Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 28, 2014. For the quarter, the company announced total revenue of $512,379,000 compared to $387,326,000 for the same period a year ago. Income from operations was $202,883,000 compared to $73,784,000 for the same period a year ago. Income before income taxes was $192,061,000 compared to $120,369,000 for the same period a year ago. Net income was $153,280,000 compared to $80,661,000 for the same period a year ago. Net income per diluted share was $1.03 compared to $0.56 for the same period a year ago. Net cash provided by operating activities was $140,549,000 compared to $126,839,000 for the same period a year ago. Purchases of property and equipment were $34,832,000 compared to $27,310,000 for the same period a year ago. Free cash flow was $105,717,000 compared to $99,529,000 for the same period a year ago. Non-GAAP net income per share, diluted was $0.87 compared to $0.45 for the same period a year ago. Non-GAAP net income was $128,949,000 compared to $64,504,000 for the same period a year ago. Non-GAAP operating profit was $192,990,000 compared to $124,918,000 for the same period a year ago. Capital expenditures were $35 million, resulting in $106 million of free cash flow.

For the full year, the company announced total revenue of $1,861,358,000 compared to $1,421,178,000 for the same period a year ago. Income from operations was $514,711,000 compared to $134,107,000 for the same period a year ago. Income before income taxes was $448,758,000 compared to $159,314,000 for the same period a year ago. Net income was $353,351,000 compared to $125,308,000 for the same period a year ago. Net income per diluted share was $2.37 compared to $0.90 for the same period a year ago. Net cash provided by operating activities was $501,271,000 compared to $386,421,000 for the same period a year ago. Purchases of property and equipment were $105,996,000 compared to $79,215,000 for the same period a year ago. Free cash flow was $395,275,000 compared to $307,206,000 for the same period a year ago. Non-GAAP net income per share, diluted was $2.74 compared to $1.80 for the same period a year ago. Non-GAAP net income was $407,217,000 compared to $249,663,000 for the same period a year ago. Non-GAAP operating profit was $686,275,000 compared to $462,229,000 for the same period a year ago.

The company provided earnings guidance for the full year of fiscal 2015. For the fiscal 2015, the company is projecting approximately 20% revenue growth, assuming current currency exchange rates, and non-GAAP earnings per diluted share of $3.12 to $3.18. These projections assume full year non-GAAP gross margin of approximately 73%, and a pro forma tax rate of approximately 28%. The company also expects to report GAAP gross margin of 70.5% and GAAP diluted net income per share between $2.73 and $2.79.

The company expects the first quarter of 2015 tax rate of approximately 29%.