This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Genomic Health's CEO Discusses Q2 2012 Results - Earnings Call Transcript

I will now turn the call over to Dean and Brad to provide further details on our second quarter 2012 financial results and our commercial and operations progress worldwide. I will then conclude the highlights of our research and development programs, including anticipated milestones and business priorities for the remainder of the year. Dean.

Dean Schorno



Thank you Kim. In the second quarter of 2012, we achieved 13% growth in both product revenue and total revenue. Specifically total revenue was $57.6 million, compared with $50.8 million in 2011, and product revenue increased to $57.2 million compared with $50.5 million in the same period of 2011. Contract revenue comprised the balance of total revenue for the second quarter of 2012.

As a reminder, first-quarter product revenue was higher due to the inclusion of approximately $1.2 million of cash revenues from payments by Medicare for colon tests performed prior to the establishment of coverage. Without this incremental revenue, first quarter product revenue would have been approximately $56.7 million. All areas of our business fuelled our 16% year-over-year growth in test volume as we delivered more than 19,020 Oncotype DX tests during the quarter.

The difference in test volume and product revenue growth rates reflect the continued diversification of our business, and our success in penetrating new markets, including DCIS, colon, and international, where we continue to focus on establishing coverage and consistent reimbursement.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,949.59 -85.34 -0.47%
S&P 500 2,097.29 -3.11 -0.15%
NASDAQ 5,014.1020 +19.50 0.39%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs