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Myriad: Fiscal 4Q Earnings Snapshot

August 21, 2018

SALT LAKE CITY (AP) _ Myriad Genetics Inc. (MYGN) on Tuesday reported fiscal fourth-quarter net income of $13.1 million.

The Salt Lake City-based company said it had net income of 18 cents per share. Earnings, adjusted for non-recurring costs, came to 38 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The molecular diagnostic company posted revenue of $200.9 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $195.8 million.

For the year, the company reported profit of $131 million, or $1.82 per share. Revenue was reported as $772.6 million.

For the current quarter ending in October, Myriad expects its per-share earnings to range from 28 cents to 30 cents.

The company said it expects revenue in the range of $200 million to $202 million for the fiscal first quarter.

Myriad expects full-year earnings in the range of $1.70 to $1.75 per share, with revenue ranging from $880 million to $890 million.

Myriad shares have risen 25 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $42.84, an increase of 48 percent 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

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