On 20 March 2020, GenMark Diagnostics, Inc. (NASDAQ: GNMK) spotted trading -35.37% off 52-week high price. On the other end, the stock has been noted 57.14% away from the low price over the last 52-weeks. The stock changed 27.85% to recent value of $5.28. The stock transacted 16000842 shares during most recent day however it has an average volume of 1306.24K shares. The company has 58.93M of outstanding shares and 57.86M shares were floated in the market.
GenMark Diagnostics, Inc. (GNMK) recently reported financial results for the fourth quarter and year ended December 31, 2019.
Fourth Quarter Financial Results
Revenue was $27.2M in the fourth quarter of 2019, a raise of 40% versus $19.4M in the fourth quarter of 2018.
Gross profit was $9.1M, or about 33.5% of revenue, contrast with $5.3M, or 27.2% of revenue in the same period of 2018.
Operating expenses for the fourth quarter of 2019 were $17.8M contrast to $15.9M in the same period of 2018. The increase was largely Because of higher BCID launch and ePlex development expenses.
Loss per share was $0.17 for the fourth quarter of 2019, contrast to a $0.21 loss per share in the fourth quarter of 2018.
Full Year 2019 Financial Results
Revenue was $88.0M in 2019, a raise of 24% versus $70.8M in 2018. Gross profit was $28.6M, or 32.5% of revenue, contrast with $19.5M, or 27.5% of revenue in the previous year.
Operating expenses for 2019 were $70.4M contrast to $67.3M in 2018. The increase was largely Because of higher BCID launch and ePlex development expenses.
Loss per share was $0.82 for 2019, contrast to a $0.91 loss per share in 2018.
Cash and investments were $53.5M as of December 31, 2019.
Guidance for Full Year 2020
The company expects revenue for the full year 2020 in the range of $100M to $110M, which represents growth of 14% to 25%, updated from 20-25% before communicated. ePlex revenues are predictable to increase by over 30% in 2020 and represent about 70% to 80% of total 2020 revenue.
Global ePlex placements are predictable to range from 130 to 160 net new analyzers with an annuity per analyzer between $130,000 and $135,000.
Gross margin is predictable to be in the 36% to 39% range and operating expenses are predictable to be about $65M to $70M.
Cash used in operations is projected to decline year over year to between $16M and $20M.
Its earnings per share (EPS) expected to touch remained 9.40% for this year while earning per share for the next 5-years is expected to reach at # ref. GNMK has a gross margin of 32.50% and an operating margin of -47.50% while its profit margin remained -53.80% for the last 12 months. According to the most recent quarter its current ratio was 3.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 20.50% from the mean of 20 days, 11.59% from mean of 50 days SMA and performed -6.45% from mean of 200 days price. Company’s performance for the week was -31.17%, 3.51% for month and YTD performance remained -14.14%.