Myriad: Fiscal 4Q Earnings Snapshot

Associated Press
Updated

SALT LAKE CITY (AP) _ Myriad Genetics Inc. (MYGN) on Tuesday reported a fiscal fourth-quarter loss of $4.2 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Salt Lake City-based company said it had a loss of 6 cents. Earnings, adjusted for one-time gains and costs, were 41 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The molecular diagnostic company posted revenue of $215.4 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $221.6 million.

For the year, the company reported profit of $4.6 million, or 6 cents per share. Revenue was reported as $851.1 million.

For the current quarter ending in October, Myriad expects its per-share earnings to range from 30 cents to 32 cents.

The company said it expects revenue in the range of $200 million to $202 million for the fiscal first quarter.

Myriad expects full-year earnings in the range of $1.80 to $1.90 per share, with revenue ranging from $865 million to $875 million.

Myriad shares have climbed 53% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $44.55, a rise of 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MYGN at https://www.zacks.com/ap/MYGN