SALT LAKE CITY (AP) — SALT LAKE CITY (AP) — Myriad Genetics Inc. (MYGN) on Wednesday reported a loss of $54.7 million in its first quarter.
The Salt Lake City-based company said it had a loss of 67 cents per share. Losses, adjusted for non-recurring costs and amortization costs, were 21 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The molecular diagnostic company posted revenue of $181.2 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $171.5 million.
Myriad expects full-year results to range from a loss of 36 cents per share to a loss of 24 cents per share, with revenue in the range of $730 million to $750 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MYGN at https://www.zacks.com/ap/MYGN
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.