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Myriad Genetics Raises FY18 Financial Guidance - Quick Facts

Myriad Genetics, Inc. (MYGN) announced, for fiscal 2018, the company expects adjusted earnings per share of $1.11-$1.16; and revenue in the range of $760-$770 million. For the third-quarter, the company expects adjusted earnings per share in the range of $0.26-$0.28; and revenue of $186-$188 million. The company estimates that the tax reform legislation will positively benefit fiscal 2018 full year adjusted earnings per share by approximately $0.06 with $0.02 recorded in the fiscal second quarter, and the remaining $0.04 benefit anticipated across the second half of fiscal 2018.

Second-quarter adjusted EPS was $0.31, up 19 percent from last year. Total revenues were $194.0 million, down 1% from prior year.

"We exceeded our financial expectations in the first half of fiscal year 2018 as a result of strong hereditary cancer volume trends, solid GeneSight revenue growth, and significant progress on our Elevate 2020 profitability program. Based upon this strong performance we are increasing our financial guidance for fiscal 2018," said Mark Capone, president and CEO, Myriad Genetics.

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