Myriad Genetics Inc. Q3 Loss Increases, but beats estimates

(RTTNews) - Myriad Genetics Inc. (MYGN) released Loss for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled -$61.3 million, or -$0.75 per share. This compares with -$35.1 million, or -$0.43 per share, in last year's third quarter.

Excluding items, Myriad Genetics Inc. reported adjusted earnings of -$2.3 million or -$0.03 per share for the period.

Analysts on average had expected the company to earn -$0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.7% to $191.9 million from $156.4 million last year.

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

-Earnings (Q3): -$61.3 Mln. vs. -$35.1 Mln. last year. -EPS (Q3): -$0.75 vs. -$0.43 last year. -Analyst Estimate: -$0.08 -Revenue (Q3): $191.9 Mln vs. $156.4 Mln last year.

-Guidance: Full year EPS guidance: (-$0.33) - (-$0.28) Full year revenue guidance: $747 - $753 Mln