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[JohnCM]

BUY with stop loss at $3.99

RSI(14) 8.58 That must be a record.

This report looks good. Not sure about margins. Do not follow this company.

GenMark Diagnostics Reports Third Quarter 2017 Results

Genmark Diagnostics, Inc. (MM) (NASDAQ:GNMK)

Saturday 4 November 2017

GenMark Diagnostics, Inc. (Nasdaq:GNMK), a leading provider of automated, multiplex molecular diagnostic testing systems, today announced financial results for the third quarter ended September 30, 2017.

Third Quarter Highlights

Placed 65 ePlex® analyzers in the third quarter, mostly driven by first full quarter of U.S. launch

Finished the quarter with an installed base of 147 ePlex analyzers in U.S. and European labs

Achieved revenues of $11.6 million in the quarter, an increase of 7.3% over the prior year period

“We are pleased with our first full quarter of ePlex launch in the U.S., which drove the majority of placements in the third quarter,” said Hany Massarany, President and Chief Executive Officer. “With strong sales funnels and continued positive customer feedback regarding the overall performance of ePlex, we remain optimistic about our opportunity to accelerate our revenue growth rate and capture market share in the global multiplex molecular diagnostics market.”

Third Quarter Financial Results

Revenue was $11.6 million in the third quarter of 2017, an increase of 7.3% versus $10.7 million in the third quarter of 2016. Gross profit was $4.2 million, or 36% of revenue, compared with $6.5 million, or 60% of revenue in the same period of 2016.

Operating expenses for the third quarter of 2017 were $18.9 million compared to $18.1 million in the same period for 2016. The increase was mainly driven by sales and marketing expenses as the Company continues to expand its commercial organization in support of the global ePlex product launch.

Loss per share was $0.28 per share for the third quarter of 2017, compared to a $0.27 loss per share in the third quarter of 2016.

The Company ended the quarter with $86.9 million in cash and investments.

Business Outlook

For full year 2017, GenMark expects revenue to range from $51 - $53 million and gross margin to range from 38% to 40%. The Company expects to exit 2017 with 185-200 ePlex placements.