Genomic Health Announces Year-End 2009 Financi... ( REDWOOD CITY Calif. December...)

Genomic Health Announces Year-End 2009 Financial Results

Date:2/3/2010

REDWOOD CITY, Calif., Feb. 3 /PRNewswire-FirstCall/ -- Genomic Health, Inc. (Nasdaq: GHDX) today reported financial results for the year ended December 31, 2009, which included 35 percent revenue growth compared with 2008, and the company becoming cash flow positive.

Total revenue for the fourth quarter of 2009 increased to $39.6 million, compared with $31.2 million in the fourth quarter of 2008. Product revenue from the Oncotype DX® breast cancer test was $39.1 million in the fourth quarter of 2009, an increase of 26 percent, compared with $30.9 million in the fourth quarter of 2008. As previously reported, total revenue was affected by a delay in the receipt of approximately $2.5 million in payments which are to be recognized as revenue upon receipt. The net loss in the fourth quarter of 2009 decreased to $0.3 million, from $2.3 million in the fourth quarter of 2008. Basic and diluted net loss per share applicable to common stockholders was $0.01 in the fourth quarter of 2009, compared with a basic and diluted net loss per share of $0.08 in the fourth quarter of 2008.

Total revenue for the year ended December 31, 2009 increased to $149.5 million, compared with $110.6 million in 2008. Product revenue was $146.6 million for the year ended December 31, 2009, compare
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