Cancer lab nets better results

FORT MYERS — Cancer-testing laboratory company Neogenomics swung to a profit in the third quarter on a boost in revenues.

Neogenomics posted net income of $900,000 in the quarter ending Sept. 30 compared with a net loss of $975,000 in the same quarter one year ago. Revenues rose 18.9% to $16.9 million in the third quarter compared with the same quarter in 2012 as cancer-test volumes rose 19.1%.

“Solid growth in test volume was driven by continued success with new products and growth in the number of customer accounts,” says Douglas VanOort, the company's chairman and CEO, in a statement. “The productivity of our sales team improved with gains in all geographic territories across the country. In addition, we have added five sales representatives and two product managers since the end of the second quarter to further accelerate growth.”