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FORT MYERS -- Citing “broad-based” growth across its business operations, NeoGenomics Inc. made an upward revision to its fourth quarter revenue projections this week.
On Oct. 19 the company said it expected to generate between $11.4 million and $12 million in fourth quarter revenues. This week, NeoGenomics increased that range to $12 million and $12.5 million.
The Fort Myers-based firm also says it expects to be profitable in the fourth quarter, although just so, projecting per-share earnings between $0 and $0.01.
“We experienced strong year-over-year revenue growth in both October and November, and our rate of growth has continued to accelerate,” explains Doug VanOort, chairman and CEO, in a release. “This growth is broad-based, and is the result of a variety of growth initiatives we have made over the last eighteen months.”
If the company achieves the midpoint of its new revenue projection, at $12.25 million, the total would represent a 40% over-the-year revenue increase, VanOort says.
Fort Myers-based NeoGenomics is a clinical laboratory that generates revenue from testing procedures, specializing in cancer genetics diagnostic testing. In addition to its headquarters, the company also operates facilities in Nashville, Tenn., and Irvine, Calif.
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