Genomic Health Earnings: Here’s Why Shares are Down Now
Genomic Health Inc. (NASDAQ:GHDX) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.91%.
Genomic Health Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.1 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Rose 10.53% to $63.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Genomic Health Inc. reported adjusted EPS loss of $0.1 per share. By that measure, the company missed the mean analyst estimate of $-0.08. It missed the average revenue estimate of $63.91 million.
Quoting Management: “In the second quarter, we delivered strong results with 11 percent year-over-year growth in product revenue and 9 percent growth in tests delivered, highlighted by higher U.S. invasive breast cancer penetration and the continued success of our international expansion,” said Kim Popovits, Chairman of the Board, Chief Executive Officer and President of Genomic Health. “Importantly, we achieved two major milestones toward further business diversification and long-term growth with the successful launch of the Oncotype DX prostate cancer test, our third product franchise, and Medicare reimbursement for our DCIS Score.”
Key Stats (on next page)…