Company To Ring Opening Bell At Nasdaq On November 14th
CARLSBAD, Calif., Nov. 12 /PRNewswire-FirstCall/ -- (Nasdaq: GXDX), a specialized laboratory services provider, today announced it has been ranked number nine on Deloitte's 2008 Technology Fast 500, a ranking of the 500 fastest-growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on the percentage of fiscal year revenue growth over five years, from 2003-2007. Genoptix grew 28,288 percent during this period.
"We have grown tremendously by providing high-quality diagnostic services to community-based oncologists and hematologists across the country," said Dr. Tina Nova, President and CEO of Genoptix, which completed its initial public offering in November 2007. "Our growth demonstrates our ability to create value for our customers and our stockholders. Growth remains one of our top priorities in the years ahead as we continue to deliver our customized comprehensive approach to a greater number of physicians nationwide."
Dr. Nova will also ring the opening bell at the Nasdaq MarketSite at 9:30 a.m. EST on November 14th, accompanied by members of the Company's executive management team. The event is to mark the first year of operation as a public company following its IPO in November of 2007.
Founded in 1999, Genoptix has been profitable since the first quarter of 2007 and has delivered 17 consecutive quarters of solid growth in case volumes and in revenues. The Company's highly trained group of hematopathologists utilizes sophisticated technology to provide integrated testing and actionable diagnostic reports. Its diagnostic services are designed to optimize the care of patients suffering from hematomalignancies, or cancers of the blood and bone marrow, including leukemia and lymphoma. Genoptix served more than 950 ordering physicians nationwide as of the end of the third quarter of 2008. Genoptix reported revenues of $59.3 million, $24.0 million, $5.2 million, $0.7 million and $0.2 million in 2007, 2006, 2005, 2004 and 2003, respectively. The Company recently expanded its laboratory space, and when coupled with a growing sales force and group of hematopathologists, is expected to nearly double its capacity to manage increasing case volumes and support continuing growth.
In addition to ranking on Deloitte's Technology Fast 500, in October Genoptix was named the fastest-growing company in Deloitte's Technology Fast 50 Program for San Diego, a ranking of the 50 fastest-growing technology, media, telecommunications and life sciences companies in the area.
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte's regional North American Fast 50 programs, nominations submitted directly to the Fast 500 and public company database research.
Companies are selected based on percentage revenue growth from 2003 to 2007. For the complete Deloitte Technology Fast 500 rankings, please visit http://www.fast500.com.
About Genoptix, Inc.
Genoptix is a leading specialized laboratory service provider focused on delivering personalized and comprehensive diagnostic services to its physician customers, community-based hematologists and oncologists. On the forefront of personalized diagnostic services, Genoptix's highly trained group of hematopathologists utilize sophisticated technology to provide integrated testing and actionable diagnostic reports. Its diagnostic services are designed to optimize the care of patients suffering from hematomalignancies, or cancers of the blood and bone marrow, including leukemia and lymphoma. Founded in 1999, Genoptix completed its initial public offering in November 2007 and is headquartered in Carlsbad, California. For more information, please visit http://www.genoptix.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release regarding the Company's business that are not historical facts may be considered "forward-looking statements," including statements regarding the potential for future growth, the success of the Company's business model, increasing case volumes and revenues, and the Company's ability to expand its laboratory facilities, increase its capacity to manage its growth and consistently provide specialized, personalized and comprehensive diagnostic services. Forward-looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties, which may cause the Company's results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from the results predicted include, without limitation, reimbursement decisions, compliance and regulatory risks, the Company's ability to hire personnel and manage its growth and the competitive landscape within the Company's industry. These and other risks and uncertainties are detailed in the Company's Annual Report on Form 10-K for the full-year period ended December 31, 2007, most recent Quarterly Report on Form 10-Q and subsequent filings with the United States Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. The Company disclaims any intent or obligation to update these forward-looking statements.
|SOURCE Genoptix, Inc.|
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