Neogenomics: Second Quarter 2014 And Full-Year 2014 Financial Outlook
The following excerpt is from the company's SEC filing
The Company also issued guidance for the fiscal second quarter today. In Quarter 2, the Company
expects revenue of $18.8 - $19.3 million and net income of $0.00 to $0.01 per share.
The Company also increased its guidance for the full year 2014 today. Previously the Company stated that it expected revenue of $73
77 million if the NCCI FISH matter was resolved positively with earnings of $0.05 to $0.07 per share. The Company now believes that it can achieve $73 77 million of revenue even if the NCCI matter is not resolved positively and
earnings of $0.03 to $0.05 per share for FY 2014. If the NCCI FISH Edits are rescinded, it would have the effect of increasing revenue by another $3 million and net income by approximately $0.04 per share on top of the above guidance.
This guidance is based on organic growth in the current business, and 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 Companys securities, and are
reminded that the foregoing estimates should not be construed as a guarantee of future performance.
(1) Adjusted EBITDA is defined as earnings
before interest, taxes, depreciation, amortization, and non-cash stock-based compensation expenses. See table for a reconciliation to net income.
The Company has
scheduled a web-cast and conference call to discuss their Q1 2014 results on Wednesday April 23, 2014 at 11:00 AM EDT. Interested investors should dial (877) 407-0782 (domestic) and (201) 689-8567 (international) at least five minutes
prior to the call and ask for Conference ID Number 13579875. A replay of the conference call will be available until 11:59 PM on May 7, 2014 and can be accessed by dialing (877) 660-6853 (domestic) and (201) 612-7415 (international).
The playback conference ID Number is 13579875. The web-cast may be accessed under the Investor Relations section of our website at www.neogenomics.com or http://www.investorcalendar.com/IC/CEPage.asp?ID=172579. An archive of the
web-cast will be available until 11:59 PM on July 23, 2014.
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 companys 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.
Interested parties can also access investor relations
material from Hawk Associates at http://www.hawkassociates.com or firstname.lastname@example.org and from Zacks Investment Research at http://www.zacks.com or email@example.com.
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
companys 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 companys periodic filings with the SEC.
Adjusted EBITDA is defined by NeoGenomics as net income (loss) from continuing operations before (i) interest expense, (ii) tax expense
and therapeutic discovery tax grants, (iii) depreciation and amortization expense, (iv) non-cash stock-based compensation and warrant amortization expense and (v) other extraordinary or non-recurring charges. NeoGenomics believes that
Adjusted EBITDA provides a more consistent measurement of operating performance and trends across reporting periods by excluding these cash and non-cash items of expense not directly related to ongoing operations from income. Adjusted EBITDA also
assists investors in performing analysis that is consistent with financial models developed by research analysts.
Adjusted EBITDA as defined by
NeoGenomics is not a measurement under GAAP and may differ from non-GAAP measures used by other companies. There are limitations inherent in non-GAAP financial measures such as Adjusted EBITDA because they exclude a variety of charges and credits
that are required to be included in a GAAP presentation, and do not therefore present the full measure of NeoGenomics recorded costs against its net revenue. Accordingly, investors should consider non-GAAP results together with GAAP results in
analyzing NeoGenomics financial performance.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. Neogenomics Inc. next reports earnings on April 23, 2014.
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Other recent filings from the company include the following:
Neogenomics Reports Record Revenues Of $20.7 Million On 40% Test Volume Growth And Expanding Gross Margins For The Second Quarter 2014 - July 17, 2014