Myriad Genetics Inc. Q1 Loss Decreases, beats estimates

(RTTNews) - Myriad Genetics Inc. (MYGN) reported Loss for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at -$26.0 million, or -$0.29 per share. This compares with -$54.7 million, or -$0.67 per share, in last year's first quarter.

Excluding items, Myriad Genetics Inc. reported adjusted earnings of -$0.5 million or -$0.01 per share for the period.

Analysts on average had expected the company to earn -$0.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.6% to $202.2 million from $181.2 million last year.

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

-Earnings (Q1): -$26.0 Mln. vs. -$54.7 Mln. last year. -EPS (Q1): -$0.29 vs. -$0.67 last year. -Revenue (Q1): $202.2 Mln vs. $181.2 Mln last year.

-Guidance: Full year EPS guidance: $0.00 - $0.05 Full year revenue guidance: $820 - $840 Mln