Myriad Genetics slips after weak FQ2 and guidance cut

Myriad Genetics (MYGN) fiscal Q2 results:

Revenues: $195.1M (-10.0%); Molecular diagnostic testing: $181.1M (-10.8%); Pharmaceutical and clinical services: $14M (+1.4%).

Revenue in Q2 fell short of expectations largely due to the prenatal business.

Net loss: ($8.3M); loss/share: ($0.11); non-GAAP Net Income: $17.6M (-39.7%); non-GAAP EPS: $0.23 (-39.5%).

CF Ops: $13.9M (-69.5%).

Fiscal Q3 guidance: Revenue: $172M vs. $201.44 mln S&P Capital IQ Consensus; EPS: ($0.30); non-GAAP EPS: $0.02 vs. $0.29 S&P Capital IQ Consensus.

Fiscal 2020 guidance: Revenue: $735M from $800M – 810M, ($807.66M S&P Capital IQ Consensus); EPS: ($0.80) from ($0.25 – 0.15); non-GAAP EPS: $0.45 from $1.00 – 1.10, ( $1.02 S&P Capital IQ Consensus).

Shares are down 27% premarket.

Previously: Myriad Genetics EPS misses by $0.06, misses on revenue (Feb. 6)

https://seekingalpha.com/news/3539659-myriad-genetics-slips-27-premarket-after-weak-fq2-and-guidance-cut