Clarient's net loss for the third quarter 2009 was $3.2 million, or ($0.04) per share applicable to common stockholders. In the third quarter of 2008, the Company reported a net loss of $2.2 million, or ($0.03) per share applicable to common stockholders.
For the nine months ended September 30, 2009 and 2008, the net loss was $3.4 million and $7.4 million, respectively. Net loss per share applicable to common stockholders for the nine months ended September 30, 2009 and 2008 was ($0.10) and ($0.10), respectively.
Adjusted EBITDA (defined below) for the 2009 third quarter was a negative $1.6 million, compared to adjusted EBITDA of $1.4 million in the third quarter of 2008. For the 2009 nine-month period, adjusted EBITDA was $3.1 million, compared to adjusted EBITDA of $2.6 million in the prior year period, an increase of 19 percent.
Operating expenses were $14.7 million for the third quarter of 2009, compared to $10.2 million in the same quarter of 2008. For the first nine months of 2009, operating expenses totaled $40.5 million, compared to $29.0 million in the year-earlier period. The increase in operating expenses in the third quarter of 2009 versus the comparable period in 2008 was largely related to additional sales and marketing personnel costs and investment in our information technology infrastructure.
At September 30, 2009, Clarient's cash and cash equivalents totaled $8.1 million compared with $1.8 million at December 31, 2008.
Ray Land, Senior Vice President and Chief Financial Officer, said, "In the long term we will greatly benefit from the changes we made this quarter. The new information will allow us to better estimate our expected reimbursement rates, give us
|SOURCE Clarient, Inc.|
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