FT. MYERS, Fla., June 23, 2014 /PRNewswire/ -- NeoGenomics, Inc. (NASDAQ: NEO),a leading provider of cancer-focused genetic testing services, announced today that it was raising its previously issued revenue guidance for Quarter 2, 2014. The Company now expects revenue of approximately $20.0 - $20.5 million for the second quarter of 2014 compared with its previous estimate of $18.8 - $19.3 million. The Company also reaffirmed its previously issued earnings per share guidance of $0.00 - $0.01 for the quarter.
Doug VanOort, the Company's Chairman and CEO, commented, "We experienced exceptionally strong year-over-year volume growth in April and May driven by a continued increase in the number of new customer accounts. We are pleased by these market share gains and by the outstanding level of customer retention our teams are achieving. The growth is geographically broad-based, and is being fueled by the increased size and productivity of our sales team and by new product activity. At the mid-point of the revised guidance range, revenue growth would approximate 30% compared with last year's second quarter. We look forward to sharing our full second quarter financial results, reviewing additional growth initiatives, and updating our full year 2014 revenue and earnings guidance as part of our Q2 Earnings Release on July 17, 2014."
The Company reserves the right to adjust this guidance at any time based on the ongoing execution of its business plan. Current and prospective investors are encouraged to perform their own due diligence before buying or selling any of the Company's securities, and are reminded that the foregoing estimates should not be construed as a guarantee of future performance.
About NeoGenomics, Inc.
NeoGenomics, Inc. is a high-complexity CLIAcertified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company's testing services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, immunohistochemistry, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA, Tampa, FL and Fort Myers, FL. NeoGenomics services the needs of pathologists, oncologists, other clinicians and hospitals throughout the United States. For additional information about NeoGenomics, visit http://www.neogenomics.com.
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Forward Looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. These forward looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward looking statements, Actual results could differ materially from such statements expressed or implied herein. Factors that might cause such a difference include, among others, the company's ability to continue gaining new customers, offer new types of tests, and otherwise implement its business plan. As a result, this press release should be read in conjunction with the company's periodic filings with the SEC.
SOURCE NeoGenomics, Inc.