AP NEWS

Myriad: Fiscal 2Q Earnings Snapshot

February 6, 2020 GMT

SALT LAKE CITY (AP) _ Myriad Genetics Inc. (MYGN) on Thursday reported a loss of $8.3 million in its fiscal second quarter.

On a per-share basis, the Salt Lake City-based company said it had a loss of 11 cents. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The molecular diagnostic company posted revenue of $195.1 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $209.2 million.

For the current quarter ending in April, Myriad expects its per-share earnings to be 2 cents.

The company said it expects revenue in the range of $172 million for the fiscal third quarter.

Myriad expects full-year earnings to be 45 cents per share, with revenue expected to be $735 million.

Myriad shares have climbed nearly 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.29, a rise of slightly more than 2% in the last 12 months.

_____

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