GenMark Diagnostics (GNMK) Preliminary Q4 Revenue Reported Essentially In-Line with Street

GenMark Diagnostics, Inc. (Nasdaq: GNMK) reported preliminary fourth quarter 2016 revenue of $14.9 million, an increase of 13% over the prior year period (*** consensus is $14.83 million). Accordingly, the Company expects full year 2016 revenue to be $49.2 million, an increase of 25% versus 2015. The Company also announced that it finished the year with more than 55 customer agreements in place totaling over 85 ePlex instruments.

“Fourth quarter revenue was in line with our expectations, despite a slow start to the flu season. Furthermore, we are very pleased with the increasing customer interest in our ePlex sample-to-answer system, particularly following our submissions to FDA last month. We finished the year with more than 55 agreements for over 85 ePlex instruments, many of which have already been installed in end-user sites. Customer feedback has been very positive, especially on ease of use and workflow,” said Hany Massarany, President and Chief Executive Officer of GenMark.

Complete 2016 fourth quarter and full year financial results will be announced during the Company’s fourth quarter earnings call. At that time, the Company also anticipates providing 2017 financial guidance.

The Company will present at the 2017 J.P. Morgan Healthcare Conference to be held at the Westin St. Francis Hotel in San Francisco, California on Wednesday, January 11, 2017. The presentation will be delivered by Hany Massarany, President and Chief Executive Officer, and is scheduled to begin at 1:30 pm Pacific Time. The presentation will be made available at http://ir.genmarkdx.com/events.cfm.

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