financial guidance | GenomeWeb

financial guidance

The firm also reported that 2016 preliminary revenues were up 14 percent, and that Nanosphere MDx platform revenues rose 32 percent.

The company lowered its financial guidance for fiscal 2016, citing delays in recognizing fourth quarter revenue from its pharma services business.

The company anticipates adjusted earnings per share of $3.85 to $3.95 for the full year.

The GenomeWeb Index, which fell nearly 9 percent in October, rebounded to a 1 percent gain in November, but still underperformed the Dow and Nasdaq.

The firm saw a 6 percent boost year over year in test volumes for its AlloMap non-invasive blood test for heart transplant patients.

The company reported drops in revenues for both its human health and environmental health units, blaming challenging market conditions for the decreases.

The company touted the recent spate of positive payor coverage decisions it has seen for its ConfirmMDx and SelectMDx prostate cancer tests.

The company attributed the increase to gains in its molecular business, including $7.4 million in revenues from Nanosphere, which Luminex acquired in June.

The company attributed the uptick in revenues to a 100 percent increase in the number of Cologuard colon cancer tests it completed during the quarter.

The company's revenues were in line with analyst expectations, while its adjusted earnings per share of $.87 beat expectations.

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