Quantcast
Home » News
Home » News

Myriad's profits slip but revenues gain ground

Published August 13, 2014 12:05 pm

Earnings • Molecular-diagnostic company took in $174 million in revenues in quarter Myriad's profits slip but revenues gain ground.
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Revenues increased but earnings decreased in the fourth quarter for Salt Lake City-based Myriad Genetics, Inc.

The molecular-diagnostic company, which discovers and commercializes tests assessing a person's risk of developing a disease, had a net quarterly income of $37.1 million in the quarter ending June 30, down from $44.1 million a year earlier. That equates to 48 cents per share.

Earnings were based on an 8.4 percent increase in revenues, from $174 million to $189.



"Myriad had an outstanding year as we launched a record three new products and closed a major strategic acquisition," said President and CEO Peter Meldrum, referring to the purchase in February of Crescendo Bioscience.

Meldrum added that he was particularly pleased with the public reception to the myRisk Hereditary Cancer test. Fourth quarter revenues from that test were $27.3 million, he said, an 89 percent increase since the quarter that ended in March.

 

 

 

USER COMMENTS
Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
comments powered by Disqus