NeoGenomics Announces Upward Revisions To Its Q4 2011 Revenue Guidance
FT. MYERS, Fla., Dec. 6, 2011 /PRNewswire/ -- NeoGenomics, Inc. (NASD OTC BB: NGNM) announced today that it was revising upward its previously issued revenue guidance for Quarter 4, 2011. The Company now expects revenue of approximately $12.0 - $12.5 million in the fourth quarter, an increase from the original guidance of $11.4 - $12.0 million released on October 19, 2011. The Company also re-iterated that it expects to be profitable in Quarter 4 with net income of $0.00 to $0.01 per share.
Doug VanOort, the Company's Chairman and CEO, commented, "We experienced strong year-over-year revenue growth in both October and November, and our rate of growth has continued to accelerate. This growth is broad-based, and is the result of a variety of growth initiatives we have made over the last eighteen months. At the $12.25 million midpoint of this revised revenue guidance, fourth quarter revenue would be 40% higher than it was last year. This year-over-year growth rate compares with 30% in Quarter 3 and 23% in Quarter 2. We look forward to sharing our fourth quarter and full-year 2011 financial results in mid-February."
The Company reserves the right to adjust this guidance at any time based on the ongoing execution of its business plan. Current and prospective investors are encouraged to perform their own due diligence before buying or selling any of the Company's securities, and are reminded that the foregoing estimates should not be construed as a guarantee of future performance.
About NeoGenomics, Inc.NeoGenomics, Inc. is a high-complexity CLIA–certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company's testing services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, and hospitals throughout the United States. For additional information about NeoGenomics, visit http://www.neogenomics.com. Interested parties can also access investor relations material from Hawk Associates at http://www.hawkassociates.com or email@example.com and from Zack's Investment Research at http://www.zacks.com or firstname.lastname@example.org. SOURCE NeoGenomics, Inc.
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