Fulgent Genetics Reports Loss In Q3 On Lower Revenue

(RTTNews) - Fulgent Genetics, Inc. (FLGT), a technology-based genetic testing company, Friday reported a loss of $13.11 million or $0.44 per share for the third quarter, compared with profit of $1.72 million or $0.06 per share in the same quarter a year ago.

Excluding one-time items, loss was $11.65 million or $0.39 per share compared with earnings of $9.82 million or $0.06 per share a year ago.

Revenue for the quarter declined to $84.69 million or $105.66 million a year ago.

Core revenue, that excludes revenue from COVID-19 testing products and services, grew 17% year-over-year to $66 million.

For the full year, the company has reaffirmed core revenue outlook of about $260 million. Further, a loss of $0.95 per share excluding items, is expected for the year.