Myriad Genetics Issues Q1, FY17 Guidance; Shares Plunge

(RTTNews) - Myriad Genetics, Inc. (MYGN) announced, for fiscal 2017, the company expects: revenue in the range of $740-$760 million; and adjusted earnings per share in the range of $1.00-$1.10. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.78 on revenue of $790.55 million. Analysts' estimates typically exclude special items. Myriad noted that its fiscal 2017 financial guidance includes the impact of the Assurex Health acquisition which Myriad expects to close at the end of the fiscal first-quarter 2017.

For the first-quarter of 2017, the company expects: revenues in the range of $168-$170 million; and adjusted earnings per share in the range of $0.25-$0.27.

Shares of Myriad Genetics were down more than 20% after hours.