Clarient Reports 2009 Third Quarter; Nine Mon...(d us to have a better understanding of p...)

Date:11/3/2009

d us to have a better understanding of payor behavior patterns and will assist us in improving the future collectability of our receivables. Having better information about our payors will allow us to initiate action to engage them. For example, one of our goals will be to get non-paying, non-contracted insurers under contract as rapidly as possible," Andrews said. "That strategy should improve our non-contracted payor collections and position us to make positive rate adjustments in future periods. Going forward, we believe that the net annual revenue impact of the pricing adjustments for these payors will be less than five percent, and the subsequent reduction of bad debt expense over time should still allow us to achieve our earnings per share goals in 2010."

Case volume in the third quarter increased to approximately 35,000 cases, a 22 percent increase from the same period in 2008. For the third quarter of 2009, testing volume totaled approximately 240,000, up 15.5 percent from the same period in 2008. Clarient's customer base of oncology and pathology practices in the U.S. increased by 35 new customers in the third quarter, taking the Company's active customer base to well over 1,100.

"While the new information received in the third quarter resulted in a recalibration of our revenue run rates, the addition of new customers, greater volumes of testing from current clients, and recent product launches will drive case and test volume growth in future quarters. With the market adoption of our new proprietary and non-proprietary tests still in its early phases, and with our new sales team members just now hitting their stride, we believe we have a solid foundation for continued growth for years to come," said Andrews.

The Company's loss from continuing operations before income taxes for the third quarter of 2009 was $3.2 million compared with an operating loss of $2.2 million for the same period of 2008. For the nine months en
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SOURCE Clarient, Inc. Copyright©2009 PR Newswire. All rights reserved

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