GenMark Diagnostics Inc (GNMK) Releases Earnings Results, Beats Expectations By $0.03 EPS

GenMark Diagnostics Inc (GNMK) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $-0.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.33. The company posted revenue of $12.50 million in the period, compared to analysts expectations of $9.62 million. The company’s revenue was up 63.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.29 EPS.

GenMark Diagnostics Inc opened for trading at $10.05 and hit $10.3 on the upside on Thursday, eventually ending the session at $10.26, with a gain of 1.58% or 0.16 points. The heightened volatility saw the trading volume jump to 1,54,881 shares. Company has a market cap of $439 M.

In a different news, on Jun 7, 2016, Ingo Chakravarty (SVP, International) sold 184 shares at $8.53 per share price. According to the SEC, on Jun 7, 2016, Jon Faiz Kayyem (SVP, Research & Development) sold 435 shares at $8.76 per share price. On Jun 7, 2016, Eric Stier (SVP & General Counsel) sold 512 shares at $8.76 per share price, according to the Form-4 filing with the securities and exchange commission.

GenMark Diagnostics Inc. (GenMark) is a molecular diagnostics company. The Company is focused on developing and commercializing its eSensor detection technology. The Company’s electrochemical technology enables detection of multiple distinct biomarkers in a single sample. The Company’s XT-8 system received 510(k) clearance from the United States Food and Drug Administration (FDA) and is designed to support a range of molecular research and diagnostic tests with a workstation and disposable test cartridges. Its XT-8 system supports up to 24 independent test cartridges each of which can be run independently resulting in a workflow for its focused customers which are primarily hospitals and reference laboratories. It has an installed base of approximately 540 XT-8 analyzers or placements with its customers.

GenMark Diagnostics Inc

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