Myriad Genetics Inc. Q1 Loss Increases, but beats estimates

(RTTNews) - Myriad Genetics Inc. (MYGN) released Loss for first quarter that decreased from the same period last year but missed the Street estimates.

The company's bottom line came in at -$20.5 million, or -$0.26 per share. This compares with -$39.5 million, or -$0.52 per share, in last year's first quarter.

Excluding items, Myriad Genetics Inc. reported adjusted earnings of -$2.8 million or -$0.03 per share for the period.

Analysts on average had expected the company to earn -$0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.7% to $164.9 million from $173.1 million last year.

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

-Earnings (Q1): -$20.5 Mln. vs. -$39.5 Mln. last year. -EPS (Q1): -$0.26 vs. -$0.52 last year. -Analyst Estimates: -$0.07 -Revenue (Q1): $164.9 Mln vs. $173.1 Mln last year.

-Guidance: Full year EPS guidance: Adj: $0.00 - $0.20 Full year revenue guidance: $670 - $700 Mln