GenMark Diagnostics (GNMK) Tops Q2 EPS by 3c

GenMark Diagnostics (NASDAQ: GNMK) reported Q2 EPS of ($0.30), $0.03 better than the analyst estimate of ($0.33). Revenue for the quarter came in at $12.5 million versus the consensus estimate of $9.62 million.

“XT-8 continues to deliver strong results. Our second quarter revenues were once again mainly driven by our infectious disease menu and reflected the unusually late 2015/16 flu season,” said Hany Massarany, President and Chief Executive Officer of GenMark. “Over the past few weeks, we installed ePlex systems in several European customer sites. Initial feedback has been very positive, confirming the ease of use of the ePlex platform, its intuitive user interface and comprehensive reporting capabilities. Furthermore, we have installed ePlex systems at all of our U.S. clinical trial sites. These sites are on track to initiate clinical studies for our ePlex respiratory pathogen (RP) panel this quarter, and we expect to submit our ePlex instrument and RP panel for FDA 510(k) clearance during fourth quarter,” added Massarany.

GUIDANCE:

GenMark Diagnostics sees FY2016 revenue of $47-61 million, versus the consensus of $47.7 million.

For earnings history and earnings-related data on GenMark Diagnostics (GNMK) click here.

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