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The company was incorporated in 1998 and is headquartered in Halifax, Canada. It also provides insurance and reinsurance services to Emera and its affiliates, as well as offers financing services. As of December 31, 2021, the company's electric utilities served approximately 810,600 customers in West Central Florida 536,000 customers in Nova Scotia 132,000 customers in the island of Barbados 19,000 customers in the Grand Bahama Island and 35,700 customers in the island of Dominica, as well as gas utilities and infrastructure served approximately 445,000 customers across Florida and 542,000 customers in New Mexico. In addition, it transports re-gasified liquefied natural gas from Saint John, New Brunswick to consumers in the northeastern United States through its 145-kilometer pipeline. The company is also involved in the purchase, transmission, distribution, and sale of natural gas and the provision of energy marketing, trading, and other energy asset management services. It generates electricity through coal-fired, natural gas and/or oil, hydro, wind, solar, petroleum coke, and biomass-fueled power plants. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.
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Moreover, Illumina is sporting a strong balance sheet. While the torrid growth of the last decade might cool, some analysts see double-digit growth for the balance of the decade. Now it can be done in a day for less than $1,000, creating new applications and new markets for companies like Illumina. The first sequencing of the human genome took 13 years and cost nearly $300 million. Genetic screening is a relatively new market. So, GRAIL acquisition or not, the company is poised for long-term growth as pharmaceutical companies and health care providers increasingly rely on the company's genetic analysis and screening tools. Illumina has grown its earnings, on average, by nearly 24% annually for the past decade, though pandemic-related disruptions weighed on earnings in 2020.
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