GenMark Diagnostics, Inc. Reports Unaudited Consolidated Earnings Results for Nine Months Ended September 30, 2015; Reaffirms Earnings Outlook for the Year 2015; Jeff Hawkins Resigns as Senior Vice President, Global Marketing and Program Management, Effective October 23, 2015
For the nine months, the company's total revenue was $26,225,000 against $20,768,000 a year ago. Loss from operations was $33,074,000 against $30,396,000 a year ago. Loss before provision for income tax was $33,389,000 against $30,242,000 a year ago. Net loss was $33,415,000 or $0.79 per basic and diluted share against $29,651,000 or $0.72 per basic and diluted share a year ago. Net cash used in operating activities was $23,680,000 against $22,232,000 a year ago. Purchases of property and equipment were $2,868,000 against $3,699,000 a year ago.
For full year 2015, the Company continues to expect revenue in the range of $38 to $40 million and gross margin of 57% to 59%. The Company now expects to place more than 90 XT-8 analyzers for the full year.
On October 21, 2015, Jeff Hawkins resigned his position as the Company's Senior Vice President, Global Marketing and Program Management effective October 23, 2015, to pursue a career opportunity outside the Company.