Genomic Health: 3Q Earnings Snapshot
REDWOOD CITY, Calif. (AP) _ Genomic Health Inc. (GHDX) on Tuesday reported third-quarter net income of $12.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Redwood City, California-based company said it had profit of 32 cents. Earnings, adjusted for non-recurring costs, were 35 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The cancer test maker posted revenue of $101.3 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $94.5 million.
Genomic Health expects full-year earnings in the range of $1.03 to $1.08 per share, with revenue in the range of $389 million to $391 million.
Genomic Health shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $70.79, more than doubling in the last 12 months.