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Genomic Health Announces Third Quarter 2012 Financial Results and Business Progress
Date:11/7/2012

REDWOOD CITY, Calif., Nov. 7, 2012 /PRNewswire/ -- Genomic Health, Inc. (Nasdaq: GHDX) today reported financial results and business progress for the quarter ended September 30, 2012.

Total revenue increased to $58.6 million in the third quarter of 2012, compared with $52.1 million in the third quarter of 2011, an increase of 13 percent.  Product revenue was $58.4 million in the third quarter of 2012, compared with $51.7 million for the same period in 2011, an increase of 13 percent.

Net income was $3.7 million in the third quarter of 2012, compared with net income of $3.2 million in the third quarter of 2011. 

Basic and diluted net income per share applicable to common stockholders was $0.12 and $0.11, respectively in the third quarter of 2012, compared with basic and diluted net income per share of $0.11 and $0.10, respectively, for the same period in 2011.

"In the third quarter, we delivered strong net income and a 13 percent increase in year-over-year product revenue, led by significant international growth reflecting the diversification of our business and continued progress in capturing an important global opportunity," said Kim Popovits, Chairman of the Board, Chief Executive Officer and President of Genomic Health. "Further, with the announcement of positive prostate cancer validation study results, we are now positioned to leverage our proven commercial infrastructure in addressing a third major cancer, and one of the greatest needs in medicine, by making the Oncotype® DX prostate cancer test available in the first half of 2013."

Total operating expenses for the third quarter of 2012 were $54.9 million, including cost of product revenues of $9.0 million, compared with total operating expenses for the comparable
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SOURCE Genomic Health, Inc.
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