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Clarient Reports First Quarter 2008
Date:4/30/2008

Generates Year-over-Year Revenue Increase of 80%; Gross Profit Improves

161%; Operating Loss Declines by 96%

ALISO VIEJO, Calif., April 30 /PRNewswire-FirstCall/ -- Clarient, Inc. (Nasdaq: CLRT), a premier anatomic pathology and molecular testing services resource for pathologists, oncologists and the pharmaceutical industry, today announced preliminary financial results for the first quarter ended March 31, 2008. Revenue from continuing operations was $15.9 million for the first quarter of 2008, an increase of 80 percent compared to $8.8 million in the comparable period in 2007. Revenue from continuing operations consists of revenue from Clarient's core diagnostic services business. A combination of the service mix distribution, increases in the Medicare fee schedule and increased overall volume resulted in a 29 percent sequential revenue growth over the fourth quarter of 2007. Adjusted EBITDA (defined below) for the first quarter ended March 31, 2008 was $1.0 million, compared to Adjusted EBITDA loss of $1.8 million in the first quarter of 2007. The first quarter of 2008 marks the 15th consecutive quarter that Clarient has experienced sequential quarterly growth and reflects the highest quarter-over-quarter sequential growth rate in more than two years.

"The results of first quarter were excellent in terms of our commercial, operational and financial metrics," Clarient CEO Ron Andrews said. "We saw greater than expected strength in new customer acquisitions, reimbursement and existing customer volumes. Our continued effort to expand our presence in the leukemia and lymphoma market has helped accelerate our sequential quarter-over-quarter growth momentum in this strategically important business line. Whe
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SOURCE Clarient, Inc.
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