Myriad Genetics, Inc. Trims Loss On Molecular Diagnostic Sales

Myriad Genetics said it narrowed its fiscal second-quarter loss to $5.1 million, or 11 cents a share, from $8.8 million, or 22 cents a share, after growing molecular diagnostic revenue by 55%. Total revenue rose 53% to $56.7 million. Analysts polled by Thomson Financial expected a loss of 18 cents a share on revenue of $52 million. The company had $303 million in cash, cash equivalents and marketable investment securities at the end of December.

MORE ON THIS TOPIC