GenMark Diagnostics, Inc. (GNMK)

[mlkrborn]

GenMark Diagnostics sees FY13 revenues of approx $30 mln compared to prior guidance of $35 mln (GNMK) 10.97 -1.00 : As a result of additional uncertainties relating to the future revenue contribution from its largest customer, together with persisting reimbursement and other challenges affecting the emerging pharmacogenomics market sector, the Company is updating its annual revenue guidance to approximately $30 million from its original estimate of approximately $35 million.

"In light of the recent developments which introduced additional uncertainty regarding this customer, we have taken a more conservative outlook and reduced our revenue expectations for the remainder of the year," Massarany further stated. "Nevertheless, we believe the significant growth rates we are experiencing in our core business strengthen our position and support year-over-year growth of about 50%, resulting in approximately $30 million of annual revenue. Furthermore, we continue to make excellent progress toward the development of our NexGen sample-to-answer system, which we believe will fuel significant growth and our future success as a global leader in molecular diagnostics."