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Genomic Health Announces Year-End 2011 Financial Results, Provides 2012 Financial Outlook
Date:2/6/2012

REDWOOD CITY, Calif., Feb. 6, 2012 /PRNewswire/ -- Genomic Health, Inc. (Nasdaq: GHDX) today reported financial results and business progress for the year ended December 31, 2011.  

Total revenue for the year ended December 31, 2011 increased to $206.1 million, compared with $178.1 million in 2010, an increase of 16 percent.  Product revenue was $204.8 million, compared with $174.9 million in 2010, an increase of 17 percent.  Contract revenue comprised the balance of total revenue for each of these periods.  

Net income was $7.8 million for the year ended December 31, 2011, compared with $4.3 million in 2010. Basic and diluted net income per share applicable to common stockholders was $0.27 and $0.26, respectively in 2011, compared with $0.15 and $0.14 per share, respectively, in 2010.

Total revenue for the fourth quarter of 2011 increased to $53.4 million, compared with $47.1 million in the fourth quarter of 2010.  Product revenue was $53.2 million in the fourth quarter of 2011, compared with $46.3 million for the fourth quarter of 2010, an increase of 15 percent.  Net income in the fourth quarter of 2011 was $2.6 million, compared with $1.7 million in the fourth quarter of 2010.  Basic and diluted net income per share applicable to common stockholders was $0.09 and $0.08, respectively, for the fourth quarter of 2011, compared with $0.06 per share in the fourth quarter of 2010.

"In 2011, we increased our financial strength and generated $7.8 million in profit while making important progress across our commercial and pipeline programs," said Kim Popovits, President and Chief Executive Officer of Genomic Health.  "As we look ahead, we remain focused on providing solutions that deliver better outcomes for cancer patients worldwide by continuing to expand our Oncotype DX® services to include pros
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SOURCE Genomic Health, Inc.
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