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Myriad: Fiscal 3Q Earnings Snapshot

SALT LAKE CITY (AP) _ Myriad Genetics Inc. (MYGN) on Tuesday reported fiscal third-quarter net income of $6.9 million.

On a per-share basis, the Salt Lake City-based company said it had profit of 9 cents. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The molecular diagnostic company posted revenue of $216.6 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $218.4 million.

For the current quarter ending in June, Myriad expects its per-share earnings to be 48 cents.

The company said it expects revenue in the range of $220 million for the fiscal fourth quarter.

Myriad expects full-year earnings to be $1.74 per share, with revenue expected to be $856 million.

Myriad shares have increased 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34.27, an increase of 18% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MYGN at https://www.zacks.com/ap/MYGN