Myriad: Q1 Earnings Snapshot
SALT LAKE CITY (AP) _ Myriad Genetics Inc. (MYGN) on Monday reported a loss of $39.5 million in its first quarter.
The Salt Lake City-based company said it had a loss of 52 cents per share. Losses, adjusted for one-time gains and costs, came to 6 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The molecular diagnostic company posted revenue of $173.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $155.2 million.
Myriad shares have climbed 54% since the beginning of the year. In the final minutes of trading on Monday, shares hit $30.40, more than doubling in the last 12 months.