Myriad Genetics Delivers 56% Sequential Increase in Quarterly Revenue; Test Volumes Reach 90% of Pre-COVID-19 Level at End of Quarter

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Go back to Myriad Genetics Delivers 56% Sequential Increase in Quarterly Revenue; Test Volumes Reach 90% of Pre-COVID-19 Level at End of Quarter

Myriad Genetics (MYGN) Tops Q1 EPS by 15c, Revenues Beat

November 9, 2020 5:32 PM EST

Myriad Genetics (NASDAQ: MYGN) reported Q1 EPS of ($0.15), $0.15 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $145.2 million versus the consensus estimate of $135.21 million.

Highlights:

Revenue of $145.2 million up 56% sequentially in quarter ended Sept. 30, 2020
GAAP operating income increased $28.7 million sequentially; non-GAAP operating income increased $30.2 million sequentially
GAAP EPS of ($0.20) and adjusted EPS of ($0.15) improved sequentially
$40 million in annualized cost savings identified to fuel transformation and growth
Myriad pursuing strategic alternatives for Myriad RBM and... More