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Genomic Health Announces Year-End 2010 Financial Results, Provides 2011 Financial Outlook
Date:2/8/2011

REDWOOD CITY, Calif., Feb. 8, 2011 /PRNewswire/ -- Genomic Health, Inc. (Nasdaq: GHDX) today reported financial results and business progress for the quarter ended December 31, 2010.

Total revenue for the year ended December 31, 2010 increased to $178.1 million, compared with $149.5 million in 2009, an increase of 19 percent.  Product revenue was $174.9 million for the year ended December 31, 2010, compared with $146.6 million in 2009.  Contract revenue comprised the balance of total revenue for each of these periods.  Net income was $4.3 million for the year ended December 31, 2010, compared with a net loss of $9.4 million in 2009.  Basic and diluted net income per share applicable to common stockholders was $0.15 and $0.14, respectively, for the year ended December 31, 2010, compared with basic and diluted net loss per share of $0.33 in 2009.

Total revenue for the fourth quarter of 2010 increased to $47.1 million, compared with $39.6 million in the fourth quarter of 2009, an increase of 19 percent.  Product revenue was $46.3 million in the fourth quarter of 2010, compared with $39.1 million for the fourth quarter of 2009.  Net income in the fourth quarter of 2010 was $1.7 million, compared with a net loss of $0.3 million in the fourth quarter of 2009.  Basic and diluted net income per share applicable to common stockholders was $0.06 in the fourth quarter of 2010, compared with basic and diluted net loss per share of $0.01 in the fourth quarter of 2009.

"In 2010, we delivered our first full year of profit and launched our second product franchise with the Oncotype DX® colon cancer test while continuing to invest in our global commercial infrastructure," said Kim Popovits, President and Chief Executive Officer of Genomic Health.  "In 2011, we plan to continue to make significant investments in the global expan
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SOURCE Genomic Health, Inc.
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