Myriad Genetics Inc. Q4 Loss Increases, but beats estimates

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

The company's earnings came in at -$42.3 million, or -$0.52 per share. This compares with -$7.6 million, or -$0.10 per share, in last year's fourth quarter.

Excluding items, Myriad Genetics Inc. reported adjusted earnings of -$9.7 million or -$0.12 per share for the period.

Analysts on average had expected the company to earn -$0.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.6% to $177.8 million from $160.8 million last year.

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

-Earnings (Q4): -$42.3 Mln. vs. -$7.6 Mln. last year. -EPS (Q4): -$0.52 vs. -$0.10 last year. -Analyst Estimate: -$0.16 -Revenue (Q4): $177.8 Mln vs. $160.8 Mln last year.

-Guidance: Next quarter EPS guidance: $(0.20) - $(0.18) Next quarter revenue guidance: $170 - $172 Mln