NeoGenomics Reports 72% Revenue Growth, 85% Gross Profit Growth and $1.5 Million Increase in Net Income for Q1 2012
Reinstates and Raises Full Year 2012 Revenue Guidance
Ft. Myers, Florida – April 25, 2012 - NeoGenomics, Inc. (NASD OTC QB: NGNM), a leading provider of cancer-focused genetic testing services today reported its results for the first quarter 2012.
First Quarter 2012 Highlights:
• 75% test volume growth • 72% revenue growth • 85% gross profit growth • Adjusted EBITDA of $1.8 million versus $(97,000) in Q1 2011 • Net income of $603,000, or $0.01 per share, versus a net loss of ($893,000), or ($0.02) per share, in Q1 2011
"Douglas M. VanOort, NGNM Chairman and CEO, Comments on HDVY
"We are making good progress in our work with Health Discovery Corporation to develop new cancer genetic tests and new and better ways to perform our current tests as a result of the licensing agreement we entered into earlier this year."