NeoGenomics posts profit

FORT MYERS — Cancer-testing firm NeoGenomics swung to a profit in the second quarter, boosted by a 49% jump in revenues.

But the company warned that regulatory changes in Medicare billing for certain tests will affect sales and earnings in the third quarter.

NeoGenomics reported it earned net income of $551,000 in the second quarter compared with a loss of $293,000 in the same quarter last year. Revenues rose 49% to $15.6 million in the second quarter, fueled by a 57% jump in cancer-test volume. Profit margins grew as the company's expenses grew at a slower pace than test volume.