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Myriad Genetics' CEO Discusses F4Q12 Results - Earnings Call Transcript

Stocks in this article: MYGN

This level of revenue is expected to result in diluted earnings per share of $1.44 to $1.48, which is also an 11% to 14% growth over the $1.30 reported in fiscal 2012. Jim will discuss the Company's guidance in more detail later on in the call.

We are building on these strong results by continuing to execute on our strategic directives for long-term growth and diversification. Underlying these strategic directives is our commitment to improving patient care through the development and marketing of transformative tests across multiple medical specialties and geographies, which address pressing clinical needs.

Our strategy is also focused on reducing inefficiencies and costs in the healthcare system, by providing patients and physicians with critical disease information to guide treatment and prevention.

As a reminder, our three strategic directives are; first, to grow our existing tests and markets; second, to expand our business internationally; and third, to launch new products, including Companion Diagnostic test across the diverse set of major disease indications.

With the successful execution of these directives, we believe Myriad is well positioned for long-term revenue growth and diversification. We will begin to see the benefits of one of these long-term initiatives this year as our international operations are expected to contribute to our revenue this fiscal year.

We are excited about the progress made thus far in Europe, as well as the future prospects for the region. Therefore, we will continue building out our infrastructure in five major countries; Germany, France, Italy, Spain and Switzerland. This expansion will focus on our sales and marketing and clinical efforts.

In total, 20 additional employees will be hired with the majority focused on educating physicians and patients about Myriad's competitive advantages, which include a 14-day turnaround time, versus the current 6 to 12 months and a 97% mutation risk determination, versus the 70% to 75% standard in Europe today.

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