Genoptix Reports Strong Financial Results For Third Qu...( 134% Increase In Re...)

134% Increase In Revenues Year-Over-Year

CARLSBAD, Calif., Dec. 12 /PRNewswire-FirstCall/ -- Genoptix, Inc. (Nasdaq: GXDX), a specialized laboratory service provider, today reported revenues of $16.2 million for the third quarter ended September 30, 2007, an increase of 134% over revenues of $6.9 million for the comparable period in 2006. For the nine months ended September 30, 2007, the Company reported revenues of $40.8 million, an increase of 152% over revenues of $16.2 million for the comparable period in 2006.

The Company also reported GAAP net income of $3.6 million, or diluted earnings per share (EPS) of $0.06, for the third quarter ended September 30, 2007, compared to a net loss of $0.8 million, or a net loss of $6.07 per diluted share, for the comparable period in 2006. For the nine months ended September 30, 2007, the Company reported net income of $8.7 million, or EPS of $0.10, compared to a net loss of $3.4 million, or a net loss of $34.50 per diluted share, for the comparable period in 2006.

The Company completed its initial public offering (IPO) on November 2, 2007, following the close of the third quarter of 2007. On a pro forma basis, assuming conversion of all outstanding preferred stock, EPS for the three and nine-months ended September 30, 2007 would have been $0.28 and $0.68, respectively (see "Pro Forma Net Income (Loss) Per Share" table below). Further, assuming the IPO was completed at the beginning of each respective period thereby increasing the weighted average shares by 4.7 million, and assuming an effective tax rate of 40%, EPS for the three and nine months ended September 30, 2007 would have decreased from the above pro forma EPS amounts by $0.15 and $0.37, respectively. '/>"/>