Exact Sciences Reports Fourth Quarter Preliminary Results
Exact Sciences (NASDAQ: EXAS) reported preliminary estimates of its fourth quarter results on Sunday with total revenue expected to come in between $294 million and $296 million. Most of the revenue came from its legacy Cologuard colon cancer screening business, which generated $229 million to $230 million, up 61% year over year.
The company closed on its acquisition of Genomic Health in early November, so the fourth-quarter revenue only includes a partial contribution from Genomic Health's precision oncology business. Fortunately Exact Sciences presented results for Genomic Health as if it were a stand-alone entity for the entire quarter, noting that sales would have been between $118 million and $119 million, up 13% year over year.
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Source Fool.com
