US-based healthcare company Myriad Genetics has reported a net profit of $25.31m, or $0.25 per diluted share for the third quarter of fiscal 2009, compared to a net loss of $4.63m, or $0.05 per share, for the third quarter of fiscal 2008.
Total revenue for the 2009 fiscal third quarter increased to $87.49m, compared with $61.76m in the prior-year period. For the third quarter of fiscal 2009 molecular diagnostic revenues rose 47% to $86.5m from $59m in the same period last year.
For the nine months ended March 31, 2009, total revenues were $245.51m, compared to $166.8m in the prior-year period. Additionally, for the first nine months of fiscal 2009, molecular diagnostics revenue increased 52% to $240.4m, from $158.2m in the same period last year.
Net profit for the nine months ended March 31, 2009 was $61m, or $0.62 per diluted share, compared with a net loss of $17.7m, or $0.20 per share, for the same period in fiscal 2008.
Peter Meldrum, president and CEO of Myriad Genetics, said: Our molecular diagnostic products provide physicians with critical information to better manage their patients’ healthcare. Because of this clinical utility, Myriad achieved record revenue and profitability this quarter despite the current economic recession.