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Genoptix Reports Continued Strong Growth for the Second Quarter and First Half of 2009
Date:7/30/2009

ations was $19.6 million, while purchases of capital equipment for the same period totaled $2.3 million.

"Our performance in the second quarter was the product of exceptional execution, as we balanced the use of organizational resources with our commitment to providing the highest level of service to our customers," said Sam Riccitelli, Genoptix EVP and COO. "We effectively managed our operational and financial growth throughout the quarter while maintaining a constant level of sales representatives and Cartesian hematopathologists. We ended the second quarter with 26 hematopathologists on staff, later adding four more and increasing the current size of the Cartesian Medical Group to 30 physicians, keeping us on track toward our goal of housing approximately 37 physicians by year-end. Additionally, we will add new sales representatives in the coming quarters, bringing us closer to our goal of approximately 85 representatives by the end of 2009."

2009 Performance Outlook

Recognizing the strength of our collection efforts and financial results in the second quarter, Genoptix expects revenues for the full-year 2009 of between $175 and $180 million, an increase from previous estimates of approximately $170 to $175 million. Total year gross margins are expected to be in the high-fiftieth percentile.

Operating margins for 2009 are expected to be in the mid-twentieth percentile, while net income is expected to be approximately $25 million, up from prior estimates of $22 million. Diluted EPS for the full-year 2009 is now expected to be between $1.40 and $1.45 on approximately 18.1 million shares, increasing from a prior range of $1.20 to $1.25. This assumes a tax rate of approximately 44%, down slightly from initial estimations of 45%.

Based on continued infrastructure expansion and implementation of its strategic plan, the Company projects capital expenditures of $8.5 mill
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SOURCE Genoptix, Inc.
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