NeoGenomics previews earnings

Despite a likely 14% year-over-year increase in second quarter revenues, Fort Myers-based NeoGenomics Inc. expects to post a loss between $0.02 and $0.03 per share, according to a company release.

The biotechnology company, which performs clinical lab tests for its clients, saw an increase in business activity, but revenues per test were down, explained CEO Douglas VanOort.

"Although testing volumes were up significantly compared with last year's second quarter, average revenue per test was down over 10%,” VanOort said. “This decrease in unit pricing was driven by changes in our test mix and pressure from insurance payers.”

Despite these disappointing results, VanOort said the company has a plan in place to help revenues grow, including new agreements with national managed care organizations, as well as the further development of new testing procedures.

The full earnings release for NeoGenomics (symbol: NGNM.OB) will take place on July 29.