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Genoptix Reports Strong Financial Results for the Second Quarter and Raises Guidance for Full-Year 2008
Date:7/31/2008

3,861 9,334 5,242

Interest income 677 79 1,608 127

Interest expense - (77) - (159)

Other income 17 13 45 42

Income before income taxes 5,871 3,876 10,987 5,252

Provision for income taxes 300 109 409 160

Net income $5,571 $3,767 $10,578 $5,092

Net income per share: (1)(2)

Basic $0.34 $0.31 $0.65 $0.33

Diluted $0.32 $0.03 $0.60 $0.03

Shares used to compute net income per

share: (1)(2)

Basic 16,337 178 16,235 166

Diluted 17,512 1,663 17,507 1,652

(1) As a result of the conversion of the Company's preferred stock into 11,032 shares of common stock upon completion of the Company's initial public offering in November 2007, there is a lack of comparability in the basic and diluted net income per share amounts for the periods presented above.

(2) For the three and six months ended June 30, 2007, the Company had net income of $3.8 million and $5.1 million, respectively, of which $3.7 million and $5.0 million, respectively, was allocated to preferred stockholders for purposes of calculating net income per share pursuant to the terms of the preferred stock, resulting in $55,000 of net income allocable to common stockholders for both periods.

GENOPTIX, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

June 30, December 31,

2008 2007


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SOURCE Genoptix, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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