Myriad Genetics’ Revenue Up By 47% For FY09

Myriad Genetics has reported an increase in molecular diagnostic revenue by 47% to $326.5m for fiscal year ended June 30, 2009, compared to $222.9m for the fiscal year ended June 30, 2008.

The company has reported an increase in molecular diagnostic revenue by 33% to $86.1m for the fourth quarter ended June 30, 2009, an increase when compared to $64.7m for the fourth quarter ended June 30, 2008.

Myriad has posted an operating income of $126.5m for the fiscal year ended June 30, 2009, an increase when compared to $61.6m for the fiscal year ended June 30, 2008.

The company has reported an increase in operating income by 80% to $34.5m for the fourth quarter ended June 30, 2009, compared to $19.2m for the same period prior year.

The company has also reported a gross profit of $283.3m, or 87% of molecular diagnostic revenue for the fiscal year ended June 30, 2009, an increase when compared to $190.5m, or 85% of molecular diagnostic revenue for the same period prior year.

It reported a gross profit of $74.9m or 87% of molecular diagnostic revenue for the fourth quarter of fiscal 2009, an increase when compared to $55.6m or 86% of molecular diagnostic revenue for the fourth quarter of 2008.

A net income of $23.6m was reported for the fourth quarter ended June 30, 2009, a decrease when compared to $65.5m for the same period prior year.

The company has reported a net income of $84.6m for the fiscal year ended June 30, 2009, an increase when compared to $47.8m for the fiscal year ended June 30, 2008.

Peter Meldrum, president and CEO of Myriad Genetics, said: While our revenue growth has moderated during the second half of the fiscal year due to the current recession, we are comfortable with current research analyst consensus guidance for our 2010 fiscal year. Additionally, we have recently implemented a number of measures in an attempt to spur sales.”