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Myriad Genetics' CEO Discusses Q4 2011 Results - Earnings Call Transcript

Now I'd like to move on to the company's expectations for fiscal 2012. We expect total revenues of $445 million to $465 million. This level of revenue is expected to result in fully diluted earnings per share of $1.20 to $1.25. Jim will speak more to the specifics of our guidance later on in the call. This compelling outlook will require a focus on executing our 3 strategic directives for long-term revenue growth: Grow existing products and markets, develop an international presence and invest in new products and capitalize on the companion diagnostic opportunity.

Shortly, Mark will discuss our strategy to recognize the full potential of our current product portfolio, and I will focus my remaining comments on our European operations and investing in our product pipeline to fuel innovative product introductions and revenue growth for years to come.

I will begin by providing a brief update of our international expansion to Europe. We are making excellent progress completing, equipping, staffing and certifying our laboratory in Munich and are on track to begin receiving samples and generating revenues in January 2012, 1 year ahead of schedule. We are also working with distributors to expand our presence in Latin America and Asia. We view this international expansion as an exciting growth opportunity for Myriad and are working aggressively to make it a reality.

As I previously shared with you, we have made it a priority to increase our internal investment in research and development to continue to deliver new transformative molecular diagnostic products, which assess a person's risk of disease, guide treatment decisions and help improve a patient's quality of life. Additionally, the 2 licensing deals and the acquisition of Rules-Based Medicine have augmented our already strong product pipeline. Our strategy is to aggressively pursue a combination of internal development, technology in-licensing and acquisitions to grow our business in the future. And we, therefore, expect to further increase our investment in this area in fiscal 2012.

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