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

s delivered in 2009.  In the fourth quarter of 2010, more than 15,180 Oncotype DX test results were delivered, an increase of 14 percent, compared with more than 13,340 test results delivered in the same period in 2009.

2011 Financial GuidanceThe company is providing the following financial guidance for the full year ending December 31, 2011:

  • Total revenue of $200 to $210 million
  • Full-year net income of $3 to $5 million
  • Oncotype DX test results delivered of 63,000 to 66,000

  • "In 2011, we expect top-line revenue growth to be primarily driven by the breast cancer franchise as we continue to secure reimbursement for our colon cancer test," said Dean Schorno, Chief Financial Officer of Genomic Health.  "This year we intend to continue an increased level of investment in our business while targeting full year profitability consistent with 2010 levels."

    Fourth Quarter 2010 Highlights:Oncotype DX Breast Cancer Commercial Progress

  • Initiated breast cancer decision impact studies of Oncotype DX with clinical researchers in the United Kingdom and France.
  • Established a contract for estrogen-receptor positive breast cancer patients with Aviva Health Insurance Ireland Limited, a private payor covering approximately 300,000 lives in Ireland.
  • Signed contracts for payment with several hospitals in Germany.
  • Cigna, a large U.S. insurer, extended its coverage to include international members and patients with micrometastases.
  • Breast Cancer Research Treatment published positive results from a Japanese economic evaluation demonstrating that the inclusion of Oncotype DX in Japan's social health insurance benefit package for node-negative and node-positive breast cancer patients would be cost effective.
  • Established first distribution agreement in the Gulf Cooperation Council (GCC) region, in Kuwait.
  • Launched a Japanese langua
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  • SOURCE Genomic Health, Inc.
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