Myriad Genetics Inc. Q1 Loss Increases, misses estimates

(RTTNews) - Myriad Genetics Inc. (MYGN) announced Loss for its first quarter that increased from the same period last year and missed the Street estimates.

The company's earnings came in at -$54.7 million, or -$0.67 per share. This compares with -$20.5 million, or -$0.26 per share, in last year's first quarter.

Excluding items, Myriad Genetics Inc. reported adjusted earnings of -$17.4 million or -$0.21 per share for the period.

Analysts on average had expected the company to earn -$0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $181.2 million from $164.9 million last year.

Myriad Genetics Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$54.7 Mln. vs. -$20.5 Mln. last year. -EPS (Q1): -$0.67 vs. -$0.26 last year. -Analyst Estimate: -$0.19 -Revenue (Q1): $181.2 Mln vs. $164.9 Mln last year.

-Guidance: Full year EPS guidance: (-$0.24) - (-$0.36) Full year revenue guidance: $730 - $750 Mln