For 1Q19, Venture major customer Illumina guided for revenue to be lower q-o-q but sees FY19 revenue growth at 13-14% y-o-y. The disappointment in Illumina’s FY18 results was the miss in equipment unit shipments. However, Illumina, expects the multi-year upgrade cycle to remain intact as it estimates that at least 75% of its customer base has yet to switch to the current leading product.
SINGAPORE (Feb 12): Venture Corp will need to deliver on its guidance of a V-shaped recovery in 4Q18 to regain investors’ confidence given the unexpected earnings miss in 3Q18, says CIMB-CGS Securities.
CIMB-CGS currently estimates 4Q18 net profit of $100.7 million, down 29.6% y-o-y. As at Feb 8, consensus expectations are for 4Q18 net profit of $99.9 million, down 30.2% y-o-y. Venture will report after the market closes on Feb 22.
