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Genomic Health Announces Third Quarter 2010 Financial Results and Business Progress
Date:11/8/2010

REDWOOD CITY, Calif., Nov. 8, 2010 /PRNewswire-FirstCall/ -- Genomic Health, Inc. (Nasdaq: GHDX) today reported financial results and business progress for the quarter ended September 30, 2010.

Total revenue increased to $46.3 million in the third quarter of 2010, compared with $39.5 million in the third quarter of 2009.  Product revenue was $45.8 million in the third quarter of 2010, an increase of 18 percent, compared with $38.9 million in the third quarter of 2009.

Net income was $3.7 million in the third quarter of 2010, compared with a net loss of $502,000 in the third quarter of 2009.  Basic and diluted net income per share was $0.13 and $0.12, respectively, in the third quarter of 2010, compared with basic and diluted net loss per share of $0.02 in the third quarter of 2009.

"Our strong third quarter results reflect an increase in revenues and test volume across all segments of our business and increasing reimbursement worldwide," said Kim Popovits, President and Chief Executive Officer of Genomic Health.  "We delivered profit for the second consecutive quarter while continuing to invest in our global commercial infrastructure as well as multiple research and development initiatives aimed at expanding our reach to cancer patients in new markets throughout the world."

Additional Third Quarter 2010 Financial Results Total operating expenses for the third quarter of 2010 were $42.9 million, including cost of product revenues of $8.9 million, compared with total operating expenses for the comparable period in 2009 of $40.1 million, including cost of product revenues of $8.3 million.  Included in operating expenses for the third quarter of 2010 were non-cash charges of $4.5 million, including $2.7 million of stock-based compensation expense and $1.8 million of depreciation and amortization expenses, compared with non-cash charge
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SOURCE Genomic Health, Inc.
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