AP NEWS

Myriad: Fiscal 1Q Earnings Snapshot

November 4, 2019

SALT LAKE CITY (AP) _ Myriad Genetics Inc. (MYGN) on Monday reported a loss of $20.6 million in its fiscal first quarter.

On a per-share basis, the Salt Lake City-based company said it had a loss of 28 cents. Earnings, adjusted for one-time gains and costs, were 8 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The molecular diagnostic company posted revenue of $186.3 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $203 million.

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

The company said it expects revenue in the range of $210 million to $212 million for the fiscal second quarter.

Myriad expects full-year earnings in the range of $1 to $1.10 per share, with revenue ranging from $800 million to $810 million.

Myriad shares have risen 21% since the beginning of the year. In the final minutes of trading on Monday, shares hit $35.10, a decrease of nearly 9% 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