UPDATE 1-Myriad cuts FY09 molecular diagnostic revenue view
Tue Jun 30, 2009 4:58pm EDT
June 30 (Reuters) - Myriad Genetics Inc (MYGN.O: Quote, Profile, Research, Stock Buzz) lowered its total molecular diagnostic revenue forecast for fiscal 2009, citing patients delaying or cancelling doctor visits due to the recession, sending its shares down 21 percent.
For fiscal 2009, the company now expects molecular diagnostic revenue -- which accounts for almost all of its revenue -- of about $326 million, down from its previous view of about $330 million.
The company expects fourth-quarter total molecular diagnostic revenue of about $86 million.
Analysts on average expect total revenue of $337.2 million for 2009 and $91.7 million for the fourth quarter, according to Reuters Estimates.
Shares of the company were down 21 percent at $28 in trading after the bell. They closed at $35.65 Tuesday on Nasdaq.
For the alerts, please double click [ID:nWNAB3425] (Reporting by Shailesh Kuber in Bangalore; Editing by Vinu Pilakkott)
www.greatstockpix.com
