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Genomic Health Announces Year-End 2012 Financial Results, Provides 2013 Financial Outlook
Date:2/6/2013

h. "With the planned launch of the Oncotype DX prostate cancer test, our third product franchise, we believe we are uniquely positioned to further diversify our business for long-term growth, and look forward to sharing full results of the prostate clinical validation study at AUA in early May."

Additional Year-End and Fourth Quarter 2012 Financial Results Total operating expenses for the year ended December 31, 2012 were $226.7 million, compared with total operating expenses for the comparable period in 2011 of $197.9 million.

Cash and cash equivalents and short-term investments at December 31, 2012 were $99.1 million after funding a $30 million share repurchase in the fourth quarter, compared with $100.5 million at December 31, 2011.  Net cash provided by operating activities for the full year was $25.8 million.

Total operating expenses for the fourth quarter of 2012 were $58.4 million, compared with total operating expenses for the comparable period in 2011 of $50.7 million.  

More than 74,520 Oncotype DX® test results were delivered for the year ended December 31, 2012, an increase of 12 percent, compared with more than 66,600 test results delivered in 2011.  In the fourth quarter of 2012, more than 18,820 Oncotype DX test results were delivered, an increase of 10 percent, compared with more than 17,080 test results delivered in the same period in 2011.

2013 Financial OutlookThe company is providing the following financial guidance for the full-year ending December 31, 2013:

  • Total revenue of $258 to $266 million
  • GAAP basic net income (loss) per share between a net loss of ($0.12) and net income of $0.08
  • Oncotype DX tests delivered of 82,000 to 84,000
  • "In 2013, we plan to continue to invest in near-term opportunities to expand our global breast and colon cancer businesses in order to drive top-line revenue growth, and in our pros
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    SOURCE Genomic Health, Inc.
    Copyright©2012 PR Newswire.
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