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May 3, 2012, 5:00 p.m. ET
Marcy Graham - Senior Director, IR
Harry Hixson - Chairman and CEO
Paul Maier – CFO
Ron Lindsay - Director and EVP
Bill Welch - SVP, Diagnostics
Dirk van den Boom - SVP, R&D
David Ferreiro – Oppenheimer & Co.
Brian Weinstein - William Blair
Nandita Koshal - Barclays Capital
William Quirk – Piper Jaffray
Kevin DeGeeter - Ladenburg Thalmann & Co.
Elemer Piros - Rodman & Rodman & Renshaw
Jon Wood (Brandon)– Jefferies & Co.
Zarak Khurshid - Wedbush Securities
Good afternoon, and welcome to the Sequenom Inc. first quarter 2012 earnings conference call. (Operator Instructions).
I would now like to turn this conference over to Marcy Graham, Senior Director of Investor Relations. Please go ahead.
Thank you, Laura. Welcome to the Sequenom conference call to discuss operating results for the first quarter of 2012. Joining me today are Dr. Harry Hixson, Chairman and CEO, Paul Maier, CFO, Dr. Ron Lindsay, Director and Executive Vice President of Research and Development, Bill Welch, Senior Vice President of Diagnostics and Dr. Dirk van den Boom, Senior Vice President of Research and Development, who will join us later for the Q&A portion of our call.
This call is also being broadcast live over the web and will be available for replay through Friday, May 11
th, 2012, on the investor section of our website at www.sequenom.com. Before we begin, please note that this call will include a discussion of Sequenom and Sequenom CMM’s current plans and intentions regarding product development, operations, commercialization, including diagnostic test projections, goals and other matters, as well as expectations regarding Sequenom’s future financial performance and reporting, statements that are not historical facts, but are forward-looking statements. Forward-looking statements are not guarantees of performance, they involve known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by any forward-looking statement. For information about the risks and uncertainties that Sequenom faces, please refer to the risk factors set forth in our recent filings with the Securities and Exchange Commission. Sequenom assumes no obligation and expressly disclaims any duty to update any forward-looking statements to reflect events or circumstances after today’s call, or to reflect the occurrence of unanticipated events. With that, I would like to now turn the call over to Dr. Harry Hixson. Harry?
Thank you, Marcy. Good afternoon and thanks for joining us on today’s call to discuss Sequenom’s first quarter for 2012. We are pleased to report that Sequenom and the Sequenom Center for Molecular Medicine, or Sequenom CMM, enjoyed a very productive start to 2012. During this first full quarter since the launch of the MaterniT21 PLUS laboratory developed test, or LDT, unit test volumes for diagnostic testing services grew at a rate faster than our internal goals, while we work to expand our operational capabilities, to manage this growth going forward.