Cancer lab posts growth

FORT MYERS — Cancer-testing firm NeoGenomics posted sales growth of 9% in the fourth quarter on the heels of its acquisition of rival Clarient from GE Healthcare Life Services.

Fort Myers-based NeoGenomics reported a net loss of $1.5 million on sales of $27.3 million in the quarter ending Dec 31. That compares with net income of $1 million on sales of $25 million in the fourth quarter of 2014.

Selling, general and administrative expenses increased by $7.3 million from the fourth quarter of last year. However $4.7 million of the increase were one-time costs related to completing the Clarient acquisition and $1.6 million was due to increases in variable stock-based compensation expense as a result of the 37% increase in the NeoGenomics stock price during the quarter.