Myriad: Fiscal 2Q Earnings Snapshot
SALT LAKE CITY (AP) _ Myriad Genetics Inc. (MYGN) on Tuesday reported fiscal second-quarter net income of $2.6 million.
The Salt Lake City-based company said it had net income of 3 cents per share. Earnings, adjusted for one-time gains and costs, were 38 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The molecular diagnostic company posted revenue of $216.8 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $218.5 million.
For the current quarter ending in April, Myriad expects its per-share earnings to range from 42 cents to 44 cents.
The company said it expects revenue in the range of $216 million to $218 million for the fiscal third quarter.
Myriad expects full-year earnings in the range of $1.70 to $1.75 per share, with revenue ranging from $855 million to $865 million.
Myriad shares have dropped 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.87, a decline of 19 percent in the last 12 months.