GenMark Diagnostics Shares Up 7% On Revenue Outlook

(RTTNews) - Shares of GenMark Diagnostics Inc. (GNMK) gained over 7% on Monday after-hours after the molecular diagnostic testing systems maker issued a strong outlook for the fourth quarter and full year 2020.

For the full year 2020, total revenues is expected to be about $171 million, representing an increase of around 95% over 2019. ePlex revenues is expected to be around $152 million, an increase of 155% over 2019.

Revenues for the fourth quarter is expected to be around $50 million, representing an increase of 84% over the fourth quarter of 2019. ePlex revenues is expected to be about $45 million, an increase of 138% over the fourth quarter last year.

Analysts polled by Thomson Reuters currently estimate revenues of $45.87 million and $167.48 million for the fourth quarter and full year 2020, respectively.

Gross margin is expected to be approximately 39% for the fourth quarter and between 39% and 40% for the full year.