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Revisions of Previously-Issued Financial Statements | 12 Months Ended
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Jun. 30, 2018
Accounting Changes And Error Corrections [Abstract] |
Revisions of Previously-Issued Financial Statements |
2. | REVISIONS OF PREVIOUSLY-ISSUED FINANCIAL STATEMENTS
During the financial close for fiscal year 2018 the Company determined that it had not fully and timely taken into account changes in the business environment and experience with ultimate collection from third-party payors in estimating the amount of revenue that could be judged fixed or determinable at the date of performance of tests during 2018 and in previous annual and quarterly periods, and consequently, certain immaterial errors existed in previously reported amounts of revenue. However, the Company concluded that the cumulative effect of correcting the errors in 2018 would materially misstate the Company’s Consolidated Financial Statements for the year ended June 30, 2018. Accordingly, the accompanying prior period results have been revised to reflect the correction of these immaterial errors in each period. The following tables presents the revised results for each previously reported period, the adjustments made to each period and the previously reported amounts to summarize the effect of the corrections on the previously reported consolidated financial statements for the periods presented.
|  |  | Year ended June 30, |
|  |  | 2017 |
|  |  | (As Reported) |  | (Adjustment) |  | (Restated) |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | $ | 102.4 |  | $ | - |  | $ | 102.4 |
Marketable investment securities |  |  |  | 48.3 |  |  | - |  |  | 48.3 |
Prepaid expenses |  |  |  | 12.7 |  |  | - |  |  | 12.7 |
Inventory |  |  |  | 42.2 |  |  | - |  |  | 42.2 |
Trade accounts receivable, less allowance for doubtful accounts of $7.6 in 2017 |  |  |  | 105.6 |  |  | (15.4 | ) |  | 90.2 |
Prepaid taxes |  |  |  | 0.2 |  |  | - |  |  | 0.2 |
Other receivables |  |  |  | 5.7 |  |  | - |  |  | 5.7 |
Total current assets |  |  |  | 317.1 |  |  | (15.4 | ) |  | 301.7 |
Property, plant and equipment, net |  |  |  | 51.1 |  |  | - |  |  | 51.1 |
Long-term marketable investment securities |  |  |  | 48.5 |  |  | - |  |  | 48.5 |
Intangibles, net |  |  |  | 491.6 |  |  | (0.1 | ) |  | 491.5 |
Goodwill |  |  |  | 316.1 |  |  | - |  |  | 316.1 |
Total assets |  |  | $ | 1,224.4 |  | $ | (15.5 | ) | $ | 1,208.9 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | $ | 22.0 |  | $ | - |  | $ | 22.0 |
Accrued liabilities |  |  |  | 65.6 |  |  | - |  |  | 65.6 |
Short-term contingent consideration |  |  |  | 127.3 |  |  | - |  |  | 127.3 |
Deferred revenue |  |  |  | 2.6 |  |  | - |  |  | 2.6 |
Total current liabilities |  |  |  | 217.5 |  |  | - |  |  | 217.5 |
Unrecognized tax benefits |  |  |  | 25.2 |  |  | - |  |  | 25.2 |
Other long-term liabilities |  |  |  | 7.2 |  |  | - |  |  | 7.2 |
Contingent consideration |  |  |  | 13.2 |  |  | - |  |  | 13.2 |
Long-term debt |  |  |  | 99.1 |  |  | - |  |  | 99.1 |
Long-term deferred taxes |  |  |  | 84.4 |  |  | (5.7 | ) |  | 78.7 |
Total liabilities |  |  |  | 446.6 |  |  | (5.7 | ) |  | 440.9 |
Commitments and contingencies |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock, 68.4 shares outstanding at June 30, 2017 |  |  |  | 0.7 |  |  | - |  |  | 0.7 |
Additional paid-in capital |  |  |  | 851.4 |  |  | - |  |  | 851.4 |
Accumulated other comprehensive loss |  |  |  | (5.5 | ) |  | - |  |  | (5.5 | )
Accumulated deficit |  |  |  | (68.4 | ) |  | (9.8 | ) |  | (78.2 | )
Total Myriad Genetics, Inc. stockholders' equity |  |  |  | 778.2 |  |  | (9.8 | ) |  | 768.4 |
Non-controlling interest |  |  |  | (0.4 | ) |  | - |  |  | (0.4 | )
Total stockholders' equity |  |  |  | 777.8 |  |  | (9.8 | ) |  | 768.0 |
Total liabilities and stockholders’ equity |  |  | $ | 1,224.4 |  | $ | (15.5 | ) | $ | 1,208.9 |
In millions, except per share amounts |  | Year Ended June 30, |
|  | 2017 |
|  | (As Reported) |  | (Adjustment) |  | (Restated) |
Molecular diagnostic testing |  | $ | 722.1 |  | $ | (1.5 | ) | $ | 720.6 |
Pharmaceutical and clinical services |  |  | 49.3 |  |  | - |  |  | 49.3 |
Total revenue |  |  | 771.4 |  |  | (1.5 | ) |  | 769.9 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | 145.2 |  |  | - |  |  | 145.2 |
Cost of pharmaceutical and clinical services |  |  | 26.0 |  |  | - |  |  | 26.0 |
Research and development expense |  |  | 74.4 |  |  | - |  |  | 74.4 |
Change in the fair value of contingent consideration |  |  | (0.8 | ) |  | - |  |  | (0.8 | )
Selling, general, and administrative expense |  |  | 476.4 |  |  | - |  |  | 476.4 |
Total costs and expenses |  |  | 721.2 |  |  | - |  |  | 721.2 |
Operating income |  |  | 50.2 |  |  | (1.5 | ) |  | 48.7 |
Other income (expense): |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 1.2 |  |  | - |  |  | 1.2 |
Interest expense |  |  | (6.0 | ) |  | - |  |  | (6.0 | )
Other |  |  | (2.5 | ) |  | (0.5 | ) |  | (3.0 | )
Total other income (expense): |  |  | (7.3 | ) |  | (0.5 | ) |  | (7.8 | )
Income before income tax |  |  | 42.9 |  |  | (2.0 | ) |  | 40.9 |
Income tax provision |  |  | 21.3 |  |  | (0.7 | ) |  | 20.6 |
Net income |  |  | 21.6 |  |  | (1.3 | ) |  | 20.3 |
Net loss attributable to non-controlling interest |  |  | (0.2 | ) |  | - |  |  | (0.2 | )
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | 21.8 |  | $ | (1.3 | ) | $ | 20.5 |
Earnings per share: |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.32 |  | $ | (0.02 | ) | $ | 0.30 |
Diluted |  | $ | 0.32 |  | $ | (0.02 | ) | $ | 0.30 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |
Basic |  |  | 68.3 |  |  | 68.3 |  |  | 68.3 |
Diluted |  |  | 68.8 |  |  | 68.8 |  |  | 68.8 |
In millions, except per share amounts |  | Year Ended June 30, |
|  | 2016 |
|  | (As Reported) |  | (Adjustment) |  | (Restated) |
Molecular diagnostic testing |  | $ | 705.7 |  | $ | (13.3 | ) | $ | 692.4 |
Pharmaceutical and clinical services |  |  | 48.1 |  |  | - |  |  | 48.1 |
Total revenue |  |  | 753.8 |  |  | (13.3 | ) |  | 740.5 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | 132.8 |  |  | - |  |  | 132.8 |
Cost of pharmaceutical and clinical services |  |  | 24.5 |  |  | - |  |  | 24.5 |
Research and development expense |  |  | 70.6 |  |  | - |  |  | 70.6 |
Change in the fair value of contingent consideration |  |  | - |  |  | - |  |  | - |
Selling, general, and administrative expense |  |  | 359.1 |  |  | 0.1 |  |  | 359.2 |
Total costs and expenses |  |  | 587.0 |  |  | 0.1 |  |  | 587.1 |
Operating income |  |  | 166.8 |  |  | (13.4 | ) |  | 153.4 |
Other income (expense): |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 0.9 |  |  | - |  |  | 0.9 |
Interest expense |  |  | (0.3 | ) |  | - |  |  | (0.3 | )
Other |  |  | 1.5 |  |  | 0.5 |  |  | 2.0 |
Total other income (expense): |  |  | 2.1 |  |  | 0.5 |  |  | 2.6 |
Income before income tax |  |  | 168.9 |  |  | (12.9 | ) |  | 156.0 |
Income tax provision |  |  | 43.6 |  |  | (4.8 | ) |  | 38.8 |
Net income |  |  | 125.3 |  |  | (8.1 | ) |  | 117.2 |
Net loss attributable to non-controlling interest |  |  | - |  |  | - |  |  | - |
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | 125.3 |  | $ | (8.1 | ) | $ | 117.2 |
Earnings per share: |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.79 |  | $ | (0.12 | ) | $ | 1.67 |
Diluted |  | $ | 1.71 |  | $ | (0.11 | ) | $ | 1.60 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |
Basic |  |  | 70.0 |  |  | 70.0 |  |  | 70.0 |
Diluted |  |  | 73.4 |  |  | 73.4 |  |  | 73.4 |
In millions, except per share amounts |  | Year Ended June 30, |
|  | 2015 |
|  | (As Reported) |  | (Adjustment) |  | (Restated) |
Molecular diagnostic testing |  | $ | 695.5 |  | $ | (0.6 | ) | $ | 694.9 |
Pharmaceutical and clinical services |  |  | 27.6 |  |  | - |  |  | 27.6 |
Total revenue |  |  | 723.1 |  |  | (0.6 | ) |  | 722.5 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | 132.8 |  |  | - |  |  | 132.8 |
Cost of pharmaceutical and clinical services |  |  | 14.6 |  |  | - |  |  | 14.6 |
Research and development expense |  |  | 75.5 |  |  | - |  |  | 75.5 |
Change in the fair value of contingent consideration |  |  | - |  |  | - |  |  | - |
Selling, general, and administrative expense |  |  | 366.0 |  |  | - |  |  | 366.0 |
Total costs and expenses |  |  | 588.9 |  |  | - |  |  | 588.9 |
Operating income |  |  | 134.2 |  |  | (0.6 | ) |  | 133.6 |
Other income (expense): |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 0.4 |  |  | - |  |  | 0.4 |
Interest expense |  |  | (0.2 | ) |  | - |  |  | (0.2 | )
Other |  |  | 0.5 |  |  | - |  |  | 0.5 |
Total other income (expense): |  |  | 0.7 |  |  | - |  |  | 0.7 |
Income before income tax |  |  | 134.9 |  |  | (0.6 | ) |  | 134.3 |
Income tax provision |  |  | 54.7 |  |  | (0.2 | ) |  | 54.5 |
Net income |  |  | 80.2 |  |  | (0.4 | ) |  | 79.8 |
Net loss attributable to non-controlling interest |  |  | - |  |  | - |  |  | - |
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | 80.2 |  | $ | (0.4 | ) | $ | 79.8 |
Earnings per share: |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.12 |  | $ | (0.01 | ) | $ | 1.12 |
Diluted |  | $ | 1.08 |  | $ | (0.01 | ) | $ | 1.07 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |
Basic |  |  | 71.3 |  |  | 71.3 |  |  | 71.3 |
Diluted |  |  | 74.5 |  |  | 74.5 |  |  | 74.5 |
In millions, except per share amounts |  | Quarters Ended |
Unaudited |  | Mar 31, |  |  | Dec 31, |  |  | Sep 30, |
|  | 2018 |  |  | 2017 |  |  | 2017 |
Consolidated Statement of Operations Data: |  | (Restated) |  |  | (Restated) |  |  | (Restated) |
Molecular diagnostic testing |  | $ | 177.3 |  |  | $ | 177.9 |  |  | $ | 176.5 |
Pharmaceutical and clinical services |  |  | 13.8 |  |  |  | 14.8 |  |  |  | 11.4 |
Total Revenue |  |  | 191.1 |  |  |  | 192.7 |  |  |  | 187.9 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | 36.8 |  |  |  | 37.7 |  |  |  | 36.2 |
Cost of pharmaceutical and clinical services |  |  | 7.3 |  |  |  | 6.7 |  |  |  | 6.8 |
Research and development expense |  |  | 18.5 |  |  |  | 16.8 |  |  |  | 17.8 |
Change in the fair value of contingent consideration |  |  | (1.2 | ) |  |  | 13.0 |  |  |  | (73.2 | )
Selling, general and administrative expense |  |  | 115.1 |  |  |  | 115.4 |  |  |  | 115.2 |
Total costs and expenses |  |  | 176.5 |  |  |  | 189.6 |  |  |  | 102.8 |
Operating income |  |  | 14.6 |  |  |  | 3.1 |  |  |  | 85.1 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 0.5 |  |  |  | 0.4 |  |  |  | 0.4 |
Interest expense |  |  | (0.5 | ) |  |  | (0.7 | ) |  |  | (0.9 | )
Other |  |  | (0.5 | ) |  |  | (0.4 | ) |  |  | (0.3 | )
Total other income (expense) |  |  | (0.5 | ) |  |  | (0.7 | ) |  |  | (0.8 | )
Income before income taxes |  |  | 14.1 |  |  |  | 2.4 |  |  |  | 84.3 |
Income tax provision |  |  | 4.5 |  |  |  | (26.3 | ) |  |  | 4.8 |
Net income |  |  | 9.6 |  |  |  | 28.7 |  |  |  | 79.5 |
Net loss attributable to non-controlling interest |  |  | (0.1 | ) |  |  | - |  |  |  | (0.1 | )
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | 9.7 |  |  | $ | 28.7 |  |  | $ | 79.6 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.14 |  |  | $ | 0.41 |  |  | $ | 1.16 |
Diluted |  | $ | 0.13 |  |  | $ | 0.40 |  |  | $ | 1.13 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 69.8 |  |  |  | 69.3 |  |  |  | 68.6 |
Diluted |  |  | 72.4 |  |  |  | 71.9 |  |  |  | 70.4 |
In millions, except per share amounts |  | Quarters Ended |
Unaudited |  | Mar 31, |  |  | Dec 31, |  |  | Sep 30, |
|  | 2018 |  |  | 2017 |  |  | 2017 |
Consolidated Statement of Operations Data: |  | (adjustments) |  |  | (adjustments) |  |  | (adjustments) |
Molecular diagnostic testing |  | $ | (2.4 | ) |  | $ | (1.3 | ) |  | $ | (2.3 | )
Pharmaceutical and clinical services |  |  | - |  |  |  | - |  |  |  | - |
Total Revenue |  |  | (2.4 | ) |  |  | (1.3 | ) |  |  | (2.3 | )
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | - |  |  |  | - |  |  |  | - |
Cost of pharmaceutical and clinical services |  |  | - |  |  |  | - |  |  |  | - |
Research and development expense |  |  | - |  |  |  | - |  |  |  | - |
Change in the fair value of contingent consideration |  |  | - |  |  |  | - |  |  |  | - |
Selling, general and administrative expense |  |  | - |  |  |  | - |  |  |  | - |
Total costs and expenses |  |  | - |  |  |  | - |  |  |  | - |
Operating income |  |  | (2.4 | ) |  |  | (1.3 | ) |  |  | (2.3 | )
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | - |  |  |  | - |  |  |  | - |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |
Other |  |  | - |  |  |  | - |  |  |  | - |
Total other income (expense) |  |  | - |  |  |  | - |  |  |  | - |
Income before income taxes |  |  | (2.4 | ) |  |  | (1.3 | ) |  |  | (2.3 | )
Income tax provision |  |  | (0.7 | ) |  |  | 2.1 |  |  |  | (0.8 | )
Net income |  |  | (1.7 | ) |  |  | (3.4 | ) |  |  | (1.5 | )
Net loss attributable to non-controlling interest |  |  | - |  |  |  | - |  |  |  | - |
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | (1.7 | ) |  | $ | (3.4 | ) |  | $ | (1.5 | )
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.02 | ) |  | $ | (0.05 | ) |  | $ | (0.02 | )
Diluted |  | $ | (0.02 | ) |  | $ | (0.05 | ) |  | $ | (0.02 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 69.8 |  |  |  | 69.3 |  |  |  | 68.6 |
Diluted |  |  | 72.4 |  |  |  | 71.9 |  |  |  | 70.4 |
In millions, except per share amounts |  | Quarters Ended |
Unaudited |  | Mar 31, |  |  | Dec 31, |  |  | Sep 30, |
|  | 2018 |  |  | 2017 |  |  | 2017 |
Consolidated Statement of Operations Data: |  | (As Reported) |  |  | (As Reported) |  |  | (As Reported) |
Molecular diagnostic testing |  | $ | 179.7 |  |  | $ | 179.2 |  |  | $ | 178.8 |
Pharmaceutical and clinical services |  |  | 13.8 |  |  |  | 14.8 |  |  |  | 11.4 |
Total Revenue |  |  | 193.5 |  |  |  | 194.0 |  |  |  | 190.2 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | 36.8 |  |  |  | 37.7 |  |  |  | 36.2 |
Cost of pharmaceutical and clinical services |  |  | 7.3 |  |  |  | 6.7 |  |  |  | 6.8 |
Research and development expense |  |  | 18.5 |  |  |  | 16.8 |  |  |  | 17.8 |
Change in the fair value of contingent consideration |  |  | (1.2 | ) |  |  | 13.0 |  |  |  | (73.2 | )
Selling, general and administrative expense |  |  | 115.1 |  |  |  | 115.4 |  |  |  | 115.2 |
Total costs and expenses |  |  | 176.5 |  |  |  | 189.6 |  |  |  | 102.8 |
Operating income |  |  | 17.0 |  |  |  | 4.4 |  |  |  | 87.4 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 0.5 |  |  |  | 0.4 |  |  |  | 0.4 |
Interest expense |  |  | (0.5 | ) |  |  | (0.7 | ) |  |  | (0.9 | )
Other |  |  | (0.5 | ) |  |  | (0.4 | ) |  |  | (0.3 | )
Total other income (expense) |  |  | (0.5 | ) |  |  | (0.7 | ) |  |  | (0.8 | )
Income before income taxes |  |  | 16.5 |  |  |  | 3.7 |  |  |  | 86.6 |
Income tax provision |  |  | 5.2 |  |  |  | (28.4 | ) |  |  | 5.6 |
Net income |  |  | 11.3 |  |  |  | 32.1 |  |  |  | 81.0 |
Net loss attributable to non-controlling interest |  |  | (0.1 | ) |  |  | - |  |  |  | (0.1 | )
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | 11.4 |  |  | $ | 32.1 |  |  | $ | 81.1 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.16 |  |  | $ | 0.46 |  |  | $ | 1.18 |
Diluted |  | $ | 0.16 |  |  | $ | 0.45 |  |  | $ | 1.15 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 69.8 |  |  |  | 69.3 |  |  |  | 68.6 |
Diluted |  |  | 72.4 |  |  |  | 71.9 |  |  |  | 70.4 |
In millions, except per share amounts |  | Quarters Ended |
Unaudited |  | Jun 30, |  |  | Mar 31, |  |  | Dec 31, |  |  | Sep 30, |
|  | 2017 |  |  | 2017 |  |  | 2016 |  |  | 2016 |
Consolidated Statement of Operations Data: |  | (Restated) |  |  | (Restated) |  |  | (Restated) |  |  | (Restated) |
Molecular diagnostic testing |  | $ | 187.0 |  |  | $ | 183.0 |  |  | $ | 184.1 |  |  | $ | 166.5 |
Pharmaceutical and clinical services |  |  | 12.6 |  |  |  | 11.7 |  |  |  | 12.6 |  |  |  | 12.4 |
Total Revenue |  |  | 199.6 |  |  |  | 194.7 |  |  |  | 196.7 |  |  |  | 178.9 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | 35.6 |  |  |  | 37.9 |  |  |  | 37.4 |  |  |  | 34.3 |
Cost of pharmaceutical and clinical services |  |  | 6.9 |  |  |  | 6.4 |  |  |  | 7.0 |  |  |  | 5.7 |
Research and development expense |  |  | 18.8 |  |  |  | 17.6 |  |  |  | 18.6 |  |  |  | 19.4 |
Change in the fair value of contingent consideration |  |  | (2.7 | ) |  |  | 5.2 |  |  |  | (3.8 | ) |  |  | 0.5 |
Selling, general and administrative expense |  |  | 122.1 |  |  |  | 122.1 |  |  |  | 120.3 |  |  |  | 111.9 |
Total costs and expenses |  |  | 180.7 |  |  |  | 189.2 |  |  |  | 179.5 |  |  |  | 171.8 |
Operating income |  |  | 18.9 |  |  |  | 5.5 |  |  |  | 17.2 |  |  |  | 7.1 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 0.3 |  |  |  | 0.3 |  |  |  | 0.3 |  |  |  | 0.3 |
Interest expense |  |  | (1.2 | ) |  |  | (1.5 | ) |  |  | (2.6 | ) |  |  | (0.7 | )
Other |  |  | (0.1 | ) |  |  | 1.5 |  |  |  | (2.6 | ) |  |  | (1.8 | )
Total other income (expense) |  |  | (1.0 | ) |  |  | 0.3 |  |  |  | (4.9 | ) |  |  | (2.2 | )
Income before income taxes |  |  | 17.9 |  |  |  | 5.8 |  |  |  | 12.3 |  |  |  | 4.9 |
Income tax provision |  |  | 5.8 |  |  |  | 3.0 |  |  |  | 6.2 |  |  |  | 5.6 |
Net income |  |  | 12.1 |  |  |  | 2.8 |  |  |  | 6.1 |  |  |  | (0.7 | )
Net loss attributable to non-controlling interest |  |  | (0.2 | ) |  |  | - |  |  |  | - |  |  |  | - |
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | 12.3 |  |  | $ | 2.8 |  |  | $ | 6.1 |  |  | $ | (0.7 | )
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.18 |  |  | $ | 0.04 |  |  | $ | 0.09 |  |  | $ | (0.01 | )
Diluted |  | $ | 0.18 |  |  | $ | 0.04 |  |  | $ | 0.09 |  |  | $ | (0.01 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 68.2 |  |  |  | 68.1 |  |  |  | 68.2 |  |  |  | 68.8 |
Diluted |  |  | 68.9 |  |  |  | 68.3 |  |  |  | 68.3 |  |  |  | 68.8 |
In millions, except per share amounts |  | Quarters Ended |
Unaudited |  | Jun 30, |  |  | Mar 31, |  |  | Dec 31, |  |  | Sep 30, |
|  | 2017 |  |  | 2017 |  |  | 2016 |  |  | 2016 |
Consolidated Statement of Operations Data: |  | (adjustments) |  |  | (adjustments) |  |  | (adjustments) |  |  | (adjustments) |
Molecular diagnostic testing |  | $ | (0.9 | ) |  | $ | (2.2 | ) |  | $ | 0.2 |  |  | $ | 1.4 |
Pharmaceutical and clinical services |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Revenue |  |  | (0.9 | ) |  |  | (2.2 | ) |  |  | 0.2 |  |  |  | 1.4 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Cost of pharmaceutical and clinical services |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Research and development expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Change in the fair value of contingent consideration |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Selling, general and administrative expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total costs and expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Operating income |  |  | (0.9 | ) |  |  | (2.2 | ) |  |  | 0.2 |  |  |  | 1.4 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (0.5 | )
Total other income (expense) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (0.5 | )
Income before income taxes |  |  | (0.9 | ) |  |  | (2.2 | ) |  |  | 0.2 |  |  |  | 0.9 |
Income tax provision |  |  | (0.3 | ) |  |  | (0.8 | ) |  |  | - |  |  |  | 0.4 |
Net income |  |  | (0.6 | ) |  |  | (1.4 | ) |  |  | 0.2 |  |  |  | 0.5 |
Net loss attributable to non-controlling interest |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | (0.6 | ) |  | $ | (1.4 | ) |  | $ | 0.2 |  |  | $ | 0.5 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.01 | ) |  | $ | (0.02 | ) |  | $ | 0.00 |  |  | $ | 0.01 |
Diluted |  | $ | (0.01 | ) |  | $ | (0.02 | ) |  | $ | 0.00 |  |  | $ | 0.01 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 68.2 |  |  |  | 68.1 |  |  |  | 68.2 |  |  |  | 68.8 |
Diluted |  |  | 68.9 |  |  |  | 68.3 |  |  |  | 68.3 |  |  |  | 68.8 |
In millions, except per share amounts |  | Quarters Ended |
Unaudited |  | Jun 30, |  |  | Mar 31, |  |  | Dec 31, |  |  | Sep 30, |
|  | 2017 |  |  | 2017 |  |  | 2016 |  |  | 2016 |
Consolidated Statement of Operations Data: |  | (As Reported) |  |  | (As Reported) |  |  | (As Reported) |  |  | (As Reported) |
Molecular diagnostic testing |  | $ | 187.9 |  |  | $ | 185.2 |  |  | $ | 183.9 |  |  | $ | 165.1 |
Pharmaceutical and clinical services |  |  | 12.6 |  |  |  | 11.7 |  |  |  | 12.6 |  |  |  | 12.4 |
Total Revenue |  |  | 200.5 |  |  |  | 196.9 |  |  |  | 196.5 |  |  |  | 177.5 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of molecular diagnostic testing |  |  | 35.6 |  |  |  | 37.9 |  |  |  | 37.4 |  |  |  | 34.3 |
Cost of pharmaceutical and clinical services |  |  | 6.9 |  |  |  | 6.4 |  |  |  | 7.0 |  |  |  | 5.7 |
Research and development expense |  |  | 18.8 |  |  |  | 17.6 |  |  |  | 18.6 |  |  |  | 19.4 |
Change in the fair value of contingent consideration |  |  | (2.7 | ) |  |  | 5.2 |  |  |  | (3.8 | ) |  |  | 0.5 |
Selling, general and administrative expense |  |  | 122.1 |  |  |  | 122.1 |  |  |  | 120.3 |  |  |  | 111.9 |
Total costs and expenses |  |  | 180.7 |  |  |  | 189.2 |  |  |  | 179.5 |  |  |  | 171.8 |
Operating income |  |  | 19.8 |  |  |  | 7.7 |  |  |  | 17.0 |  |  |  | 5.7 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 0.3 |  |  |  | 0.3 |  |  |  | 0.3 |  |  |  | 0.3 |
Interest expense |  |  | (1.2 | ) |  |  | (1.5 | ) |  |  | (2.6 | ) |  |  | (0.7 | )
Other |  |  | (0.1 | ) |  |  | 1.5 |  |  |  | (2.6 | ) |  |  | (1.3 | )
Total other income (expense) |  |  | (1.0 | ) |  |  | 0.3 |  |  |  | (4.9 | ) |  |  | (1.7 | )
Income before income taxes |  |  | 18.8 |  |  |  | 8.0 |  |  |  | 12.1 |  |  |  | 4.0 |
Income tax provision |  |  | 6.1 |  |  |  | 3.8 |  |  |  | 6.2 |  |  |  | 5.2 |
Net income |  |  | 12.7 |  |  |  | 4.2 |  |  |  | 5.9 |  |  |  | (1.2 | )
Net loss attributable to non-controlling interest |  |  | (0.2 | ) |  |  | - |  |  |  | - |  |  |  | - |
Net income attributable to Myriad Genetics, Inc. stockholders |  | $ | 12.9 |  |  | $ | 4.2 |  |  | $ | 5.9 |  |  | $ | (1.2 | )
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.19 |  |  | $ | 0.06 |  |  | $ | 0.09 |  |  | $ | (0.02 | )
Diluted |  | $ | 0.19 |  |  | $ | 0.06 |  |  | $ | 0.09 |  |  | $ | (0.02 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 68.2 |  |  |  | 68.1 |  |  |  | 68.2 |  |  |  | 68.8 |
Diluted |  |  | 68.9 |  |  |  | 68.3 |  |  |  | 68.3 |  |  |  | 68.8 |

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- References No definition available. + Details
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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
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Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration