Quarterly Revenue and Case Volumes Increase 53% and 52% Respectively
ALISO VIEJO, Calif., March 31 /PRNewswire-FirstCall/ -- Clarient, Inc. (Nasdaq: CLRT), a premier technology and services resource for pathologists, oncologists and the pharmaceutical industry, today announced financial results for the fourth quarter and year ended December 31, 2007. Revenue from continuing operations was $12.4 million for the fourth quarter of 2007, an increase of over 53 percent compared to $8.1 million for the comparable period in 2006.
Total patient case volume for the fourth quarter of 2007 was approximately 21,500, an increase of 52 percent compared to the comparable period in 2006. Sequential total patient test volume in comparison to the third quarter of 2007 increased 10 percent, including a 6 percent increase in breast prognostics/solid tumor testing, an 18 percent increase in leukemia/lymphoma volumes, and a 12 percent increase in PCR/molecular testing volumes.
Clarient reported $6.4 million in gross profit for the fourth quarter of 2007, an increase of 78 percent as compared to $3.6 million for the comparable period in 2006. Reported gross margin in the fourth quarter of 2007 was 52 percent as compared to 45 percent for the same period 2006. Gross margins improved as a result of increased total patient volume, better use of the Company's capacity, improved revenue mix, improved process efficiencies and improved pricing with vendors.
Commenting on the year end results, Ron Andrews, President and CEO,
said, "Our business model continued to validate that we can produce
sustainable growth as we completed the quarter with a 53 percent increase
in revenue over the fourth qua
|SOURCE Clarient, Inc.|
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