Genoptix Reports Strong Financial Results for the Second Quarter and Raises Guidance for Full...(3861 9334 5242 Interest income ...),Health
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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