CARLSBAD, Calif. (AP) _ GenMark Diagnostics Inc. (GNMK) on Monday reported a loss of $7 million in its first quarter.
The Carlsbad, California-based company said it had a loss of 12 cents per share. Losses, adjusted for non-recurring costs, came to 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The molecular diagnostics company posted revenue of $38.7 million in the period.
GenMark Diagnostics expects full-year revenue in the range of $120 million to $130 million.
GenMark Diagnostics shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.74, a climb of 51% in the last 12 months.