Myriad Genetics (MYGN) Misses Q1 EPS by 2c; Maintains Outlook

November 1, 2016 4:15 PM EDT
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Myriad Genetics (NASDAQ: MYGN) reported Q1 EPS of $0.23, $0.02 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $177.5 million versus the consensus estimate of $172.85 million.

GUIDANCE:

Myriad Genetics sees Q2 2017 EPS of $0.23-$0.25, versus the consensus of $0.27. Myriad Genetics sees Q2 2017 revenue of $188-190 million, versus the consensus of $193.37 million.

Myriad Genetics sees FY2017 EPS of $1.00-$1.10, versus the consensus of $1.06. Myriad Genetics sees FY2017 revenue of $740-760 million, versus the consensus of $748.23 million.

"We were pleased with the first quarter as our hereditary cancer business returned to more normal volume trends, and we secured important endorsements from physician networks representing 70 percent of community oncologists in the United States,” said Mark C. Capone, president and CEO of Myriad. “In addition, our newest tests, Genesight®, EndoPredict®, and Prolaris® all exceeded 50 percent growth rates, and we successfully completed PARP inhibitor studies with the first prospective validation of myChoice® HRD and an additional validation for BRACAnalysis CDx™. We remain committed to transforming Myriad into a larger and more diversified personalized medicine company and delivering upon our five-year strategic goals.”

For earnings history and earnings-related data on Myriad Genetics (MYGN) click here.



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