GenMark Diagnostics (GNMK) Tops Q2 EPS by 2c

GenMark Diagnostics (NASDAQ: GNMK) reported Q2 EPS of ($0.29), $0.02 better than the analyst estimate of ($0.31). Revenue for the quarter came in at $7.6 million versus the consensus estimate of $7.59 million.

The Company ended the quarter with $62.6 million in cash and cash equivalents and intends to continue utilizing its cash balances to invest in the global commercialization of the ePlex system.

“We are pleased with the continued robust performance of our XT-8 business. Revenue, gross margin and new analyzer placements were all strong in the second quarter,” said Hany Massarany, President and Chief Executive Officer of GenMark. “Concurrently, we remain focused on the transfer of the ePlex cartridge to manufacturing. We are committed to bringing to market the highest quality system we can, and establishing the high volume manufacturing processes necessary to support the clinical studies and European launch. We have made solid progress in the quarter and expect the European launch of ePlex by the end of the fourth quarter,” added Massarany.

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

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