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Dang!!! I wasn't able to be around the computor this morning. Had a sell order * .24, It looked like a big wall * .25. Oh well made a profit. Can't complain!! Thanks Keithsan, nice pick!
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I know your picks are usually very good...I guess I was just getting a little worried cause it was taking so long to let loose. But that's usually my story.
quote:Originally posted by binnocent: I know your picks are usually very good...I guess I was just getting a little worried cause it was taking so long to let loose. But that's usually my story.
Awesome run today!!!!
I buy at or near the bottoms and hold (as long as I think its good) a few big runners more than pays for the one or 2 who never move.
IP: Logged |
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NeoGenomics Announces Results for Third Quarter of FY 2006 7:00a ET November 10, 2006 (PR NewsWire) NeoGenomics, Inc. (OTC Bulletin Board: NGNM) today announced its results for the third quarter of fiscal year 2006. Significant accomplishments during the quarter included the following:
3rd Quarter 2006 Accomplishments: -- 186% year-over-year increase in revenues in Q3 '06 vs. Q3 '05 -- 316% increase in the nine months YTD revenue vs. the same period in '05 -- Increased gross margin to 55% in Q3 '06 from 46% in Q3 '05 -- Unveiled comprehensive Genetic Pathology Solutions (GPS) service offering -- Opened a new laboratory facility in Southern California -- Appointed Dr. Frank Yang, M.D., Ph.D. as Associate Medical Director -- Appointed Dr. Matthew Moore, Ph.D. as Vice President, Research & Development
President and Chief Scientific Officer Robert Gasparini said, "During the third quarter, we made significant strides in increasing our capacity, attracting key personnel and broadening our product lines which we believe will position NeoGenomics for a robust FY 2007. With respect to capacity, I am pleased to report that we finished the expansion of our 9,600 square foot facility here in Ft. Myers, FL and the build-out of our new 5,400 square foot facility in Nashville, TN. We have also been able to more than triple our Nashville staff since purchasing the lab in April of this year. In July, we opened our third laboratory facility in Southern California, which is currently going through the CA laboratory and genetics licensure process. This facility, which now gives us a bi-coastal presence, is expected to begin producing revenue sometime in the first quarter of FY 2007."
Gasparini went on to say, "One of the toughest challenges in growing a laboratory rapidly is the choreography and balance needed between building-out capacity and increasing the sales force. As a result of increasing our physical infrastructure in the third quarter, it gave us the flexibility to hire additional sales personnel. I am pleased to report that effective November 1st, we added four additional senior sales personnel to the NeoGenomics team. This has effectively doubled the size of our sales force. All four of these individuals were previously top-ranked sales personnel at another laboratory and I have personally worked with each of them prior to my joining NeoGenomics. We are now ready to drive revenue growth through the sales organization and are excited about what these individuals bring to the table."
Gasparini further stated, "In addition to increasing our capacity and expanding the sales force, we made other key hires during Q3. Dr. Matthew Moore joined us in July and was recently appointed to the position of Vice President, Research & Development. Dr. Moore has a Ph.D. in molecular biology and has significant experience in developing assays for use in genetic and molecular diagnostic testing. He has been charged with leading NeoGenomics' entry into the rapidly growing Contract Research Organization (CRO) marketplace during FY '07. We believe that we can offer many of the same services we perform for our diagnostic testing clients to other organizations engaged in pharmaceutical research and development with only modest incremental investments in our infrastructure, and we are excited to further diversify our revenue stream. As part of Dr. Moore's duties he will also begin assessing how we can introduce intellectual property into our business model."
"We also welcomed Dr. Frank Yang, a noted hematopathologist, to our team in late July as Associate Medical Director," Gasparini continued. "After his arrival, we were able to bring several critical anatomic pathology (AP) testing services in-house, which allowed us to launch our industry-leading Genetic Pathology Solutions (GPS) service offering in early September. Thus far, we are encouraged with the marketplace acceptance of these new services and we are seeing significant demand for them in the hematology/oncology segment. As we discussed in our September 26th press release announcing GPS, our customer mix began to evolve during the third quarter. In particular, we began to see more demand from higher margin oncology and hematology clients and reduced demand from some lower margin reference lab customers, primarily due to their perception that our new AP services conflict with some of their own services. This was an expected development, and we believe that any lost revenue from reference lab customers will be more than offset by new revenue from higher margin oncology and hematology clients which are a far more stable source of revenue for NeoGenomics over the longer term."
Gasparini finished by saying, "I am also pleased to report that in addition to the above new hires, Mr. Jerome Dvonch, the Company's Director of Finance, has been appointed as the Principal Accounting Officer of NeoGenomics. Jerry has worked tirelessly behind the scenes to ensure that our financial operations run smoothly and in this new capacity, he will assume primary responsibility for reporting of our financial information. Steven Jones, a member of our Board of Directors, will remain our Acting Principle Financial Officer, but will begin to focus more on strategic activities on behalf of the Company."
Steven Jones, the Acting Principle Financial Officer, said, "We are very pleased with our third quarter results. We were able to increase revenues by approximately 186% on a year-over-year basis to $1,602,000 in Q3 '06 from $559,000 in Q3 '05. This year-over-year increase was largely a result of a 160% increase in the number of tests performed as well as a 10% increase in our average revenue per test during this period. Our requisitions increased 162% to 2,398 in Q3 '06 from 917 requisitions in Q3 '05. Further highlighting our economies of scale is the fact that gross profit grew 242% on a year-over- year basis from Q3 '05 to Q3 '06, whereas selling, general and administrative expenses increased by only 76% during this period. As a result of these factors, our net income increased by approximately $271,800 to approximately $32,000 in Q3 '06 from a net loss of $239,900 in Q3 '05."
Jones continued, "With respect to our sequential growth rates, it is important to remember that, like all laboratories, we always experience some seasonality in our "same customer sales" during Q3 due to a larger than normal number of our customers and their patients taking vacations during these months. At NeoGenomics, this trend is further exacerbated in our Florida customer base as result of the yearly migration of a significant number of senior citizens back to northern climates during the hot summer months. Our sequential growth rate in this third quarter was also impacted by the aforementioned evolution of our customer mix as a result of introducing our new AP services. This evolution, which we consider to be a one-time event, resulted in a decrease of approximately $400,000 in revenues from certain reference lab customers during Q3 as compared to Q2. Based on our October results, we can report that revenues from reference lab customers have normalized and have begun to grow once again. In fact, our industry-leading turn-around times attracted a new reference lab customer in October and we are currently in discussions with others."
Jones went on to say, "We are issuing the following preliminary guidance for FY '07 at this time. Based on our current momentum and business plan, we believe we can achieve FY '07 revenue of approximately $14.0-$16.0 million and maintain gross margins in the 55% area. We also believe we can achieve net income in the range of $1.3 - $1.7 million. We expect capital expenditures to be approximately $1.0 - $1.5 million in FY '07 and we believe that we can lease finance a large portion of these. It is important to emphasize that the above guidance is based only on organic growth in our current business, and we reserve the right to adjust this guidance at any time as a result of acquisitions or other strategic initiatives we may undertake and/or based on the ongoing execution of our business plan. By no means should these estimates be construed as a guarantee of future performance, and current and prospective investors are encouraged to perform their own due diligence before buying or selling any of our securities."
Jones finished by saying, "We are also pleased to announce that NeoGenomics has been invited to make a presentation to investors at the JP Morgan Small Cap Conference next Wednesday, November 15th at 2:05 PM EST at the Four Seasons Hotel in Boston. It is a great honor to have been selected for such a prestigious conference and we look forward to sharing our story with the institutional investment community." Interested parties can listen to a web-cast of this presentation at http://www.mapdigital.com/jpmorgan/smallcapboston06/. An archive of this web- cast will also be available for 3 months.
The Company has also scheduled a web-cast and conference call to discuss these third quarter results on Friday, November 10, at 10:00 AM EST. Interested investors should dial (877) 407-0778 (domestic) and (201) 689-8565 (international) at least five minutes prior to the call. A replay of the conference call will be available until November 24, 2006 until 11:59 PM and can be accessed by dialing (877) 660-6853 (domestic) and (201) 612-7415 (international). The playback account number will be 286 and the playback pin number is 208851. The web-cast may be accessed under the Investor Relations section of the NeoGenomics website at http://www.neogenomics.org or at http://www.hawkassociates.com/ngnmmore.aspx. An archive of the web-cast will be available until 11:59 PM EST on March 2, 2007.
About NeoGenomics, Inc.
NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company's cancer genetic testing services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Ft. Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Ft. Myers and services the needs of oncologists, pathologists, urologists, hospitals and other reference laboratories throughout the United States. For additional information about NeoGenomics, visit http://www.neogenomics.org.
Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. These forward looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward looking statements, including, but not limited to, the Company has incurred significant losses since its inception and has experienced negative operating margins and negative cash flows from operations, any adverse effect or limitations caused by governmental regulations, the company's ability to attract and retain qualified personnel, to initiate and develop client relationships, to gain market acceptance of service offerings, as well as other risks described from time to time in the company's filings with the Securities and Exchange Commission. Although the Company has used its best efforts to be accurate in making those forward-looking statements, there can be no assurance that the assumptions made by management will materialize. In addition, the information set forth in the Company's Form 10-KSB for the fiscal year ended December 31, 2005 describe certain additional risks and uncertainties that could cause actual results to vary materially from the future results covered in such forward-looking statements. The company undertakes no obligation to publicly revise or update the forward-looking statements to reflect new information, subsequent events or otherwise.
NeoGenomics, Inc. CONSOLIDATED BALANCE SHEET AS OF September 30, 2006 (unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $411,613 Accounts receivable (net of allowance for doubtful accounts of $47,511) 1,136,335 Inventories 59,421 Other current assets 160,130 Total current assets 1,767,499 PROPERTY AND EQUIPMENT (net of accumulated depreciation of $420,190) 1,170,687 OTHER ASSETS 33,169 TOTAL $2,971,355 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $401,860 Deferred revenue 89,970 Short-term portion of equipment lease and notes payable 72,368 Accrued compensation 170,748 Accrued and other liabilities 65,580 Total current liabilities 800,526 LONG TERM LIABILITIES: Line of credit (net of unamortized discount of $52,757) 1,572,243 Long-term portion of equipment lease 371,634 Total long term liabilities 1,943,877 TOTAL LIABILITIES 2,744,403 STOCKHOLDERS' EQUITY: Common stock, $.001 par value, 100,000,000 shares authorized; 26,777,842 shares issued and outstanding 26,778 Additional paid-in capital 11,031,760 Deferred Stock Compensation (110,771) Accumulated equity (10,720,815) Total stockholders' equity 226,952 TOTAL $2,971,355 NeoGenomics, Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) For the For the For the For the Nine- Nine- Nine- Nine- Months Months Months Months Ended Ended Ended Ended September September September September 30, 2006 30, 2005 30, 2006 30, 2005 REVENUE $4,713,172 $1,134,429 $1,601,880 $559,349 COST OF REVENUE 2,023,479 648,491 720,866 301,486 GROSS PROFIT 2,689,693 485,938 881,014 257,863 OPERATING EXPENSES: Selling, general and administrative 2,158,471 981,561 765,687 436,160 Total operating expenses 2,158,471 981,561 765,687 436,160 OPERATING INCOME (LOSS) $531,222 $(495,623) $115,327 $(178,297) OTHER (INCOME)EXPENSE, NET: Interest Expense 231,638 140,845 83,432 61,640 Total Other (Income) Expense, Net 231,638 140,845 83,432 61,640 NET INCOME (LOSS) $299,584 $(636,468) $31,895 $(239,937) NET INCOME (LOSS) PER SHARE: Basic $0.01 $(0.03) $0.00 $(0.01) Diluted $0.01 $(0.03) $0.00 $(0.01) WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING : Basic 25,891,331 22,145,593 26,599,981 22,526,370 Diluted 29,318,402 22,145,593 31,172,953 22,526,370 NeoGenomics, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) For the For the Nine-Months Nine-Months Ended Ended September 30, September 30, 2006 2005 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $299,584 $(636,468) Adjustments to reconcile net income (loss) to net cash used in operating activities: Depreciation 158,879 88,335 Equity-based compensation 77,250 98,491 Provision for bad debts 212,058 65,727 Amortization of debt issue costs 16,076 13,973 Amortization of lease cap costs 362 - Amortization of relocation expenses 38,488 14,009 Changes in assets and liabilities, net: Accounts receivables, net of write-offs (797,294) (383,326) Inventory 579 (29,244) Pre-paid expenses (92,495) (25,223) Other current assets (48,441) 3,474 Deposits (31,463) 1,500 Accounts payable and other liabilities (135,022) 104,160 NET CASH USED IN OPERATING ACTIVITIES (301,439) (684,592) CASH FLOWS USED IN INVESTING ACTIVITIES - Purchases of property and equipment (752,679) (82,659) CASH FLOWS FROM FINANCING ACTIVITIES: Advances from affiliates, net 125,000 620,451 Issuance of notes payable 92,905 - Repayment of notes payable (90,905) - Proceeds from capital lease 481,179 - Repayment of capital lease (36,499) - Debt issue costs - (53,587) Issuances of common stock, net of transaction expenses 883,107 164,662 NET CASH PROVIDED BY FINANCING ACTIVITIES 1,454,787 731,526 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 400,669 (35,725) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 10,944 112,548 CASH AND CASH EQUIVALENTS, END OF PERIOD $411,613 $76,823 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Interest paid $195,286 $89,834 Income taxes paid $- $- SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: Equipment leased under capital lease 481,175 - NeoGenomics, Inc. Supplemental Information on Customer Requisitions Received and Tests Performed For the For the Nine-Months Nine-Months Ended Ended September September % Inc 30, 2006 30, 2005 (Dec) Requisitions Received (cases) 6,818 1,887 261.3% Number of Tests Performed 9,448 2,506 277.0% Avg. # of Tests / Requisition 1.38 1.33 4.3% Total Testing Revenue $4,713,172 $1,134,429 315.5% Avg Revenue/Requisition $691.28 $601.18 15.0% Avg Revenue/Test $498.85 $452.69 10.2% For the For the Three-Months Three-Months Ended Ended September September % Inc 30, 2006 30, 2005 (Dec) Requisitions Received (cases) 2,398 917 161.5% Number of Tests Performed 3,309 1,271 160.3% Avg. # of Tests / Requisition 1.38 1.38 (0.4)% Total Testing Revenue $1,601,880 $559,349 186.4% Avg Revenue/Requisition $668.01 $609.98 9.5% Avg Revenue/Test $484.10 $440.08 10.0%
SOURCE NeoGenomics, Inc.
Investor Relations: Steven C. Jones, Director of Investor Relations, of NeoGenomics, Inc., +1-239-325-2001, sjones*neogenomics.org; Frank N. Hawkins or Julie Marshall, both of Hawk and Associates, Inc. for NeoGenomics, Inc., +1-305-451-1888, info*hawkassociates.com http://www.neogenomics.org
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NeoGenomics IncOTC BB:NGNM Show MeSymbol Lookup 1.58 0.02 (1.25%) Buy Sell Set Triggers View Option Chain
Bid 1.50Ask 1.58 B/A Size 500 x 500 High 1.58 Low 1.50 Vol. 49,442 (Heavy) Latest News Press Releases Company Events
American Microcap Institute Maintains 'Strong Buy' on NeoGenomics 9:20a ET January 19, 2007 (PR NewsWire) The American Microcap Institute (AMI), a leading online resource for microcap investors and a division of Hawk Associates Inc., announced today that it issued an update to its analyst coverage on NeoGenomics, Inc. (OTC Bulletin Board: NGNM) based on the company's third quarter earnings.
NeoGenomics is an independent medical laboratory company specializing in genetic testing for cancer. AMI maintained its "strong buy" rating and set a price target range of $1.80 to $2.10 by the end of 2007. The third quarter of 2006 was NeoGenomics' third consecutive profitable quarter. Total revenues grew 186% year-over-year but decreased 9% on a sequential basis due to seasonality and a transition in customer base to higher margin clients. The company also announced a record number of new customers in Q3, the opening of a new lab in Irvine, Calif., and the introduction of a new genetic pathology solutions (GPS) testing service. Subsequent to the release of Q3 earnings, NeoGenomics also announced the launch of the industry's first tech-only FISH testing service for pathologists.
The third quarter analyst update and previous reports on the company can be accessed for free on the AMI Research website, http://www.amistockreports.com.
About AMI Research
AMI Research, a service of the American Microcap Institute, provides fundamental research on promising small companies that do not have traditional Wall Street analyst coverage. These detailed issuer-paid research reports provide investors with an in-depth understanding of a company and its technology, industry, business model, financials and growth prospects.
AMI Research does not accept payment of fees in company stock. Principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in AMI reports accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by the company is in any way related to the specific ratings or views contained in the report. Please read all disclosures and certifications in each report prior to investing. For more information, visit http://www.amistockreports.com.
About The American Microcap Institute (AMI)
The American Microcap Institute (AMI) is a leading online resource for microcap investors and a division of Hawk Associates Inc. AMI is dedicated to providing investors with timely and accurate information on companies trading under $10. The AMI website provides investors with a free stock watch list and information about featured microcaps, company headlines, 20-minute delayed Level II price quotes, email alerts, CEO interviews and research reports. No registration is required to access the site. For more information, visit http://www.americanmicrocaps.com.
About Hawk Associates Inc.
Hawk Associates, Inc. is a full-service national investor relations and financial media relations consulting firm serving clients nationwide as well as in China and Vietnam. Hawk Associates operates the American Microcap Institute website, http://www.americanmicrocaps.com. For more information about Hawk Associates, visit http://www.hawkassociates.com or contact Frank Hawkins or Julie Marshall at (305) 451-1888, e-mail: info*hawkassociates.com.
About NeoGenomics, Inc.
NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that offers cancer genetic diagnostic testing services including cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry and molecular genetic testing. NeoGenomics is headquartered in Fort Myers, Fla., and services the needs of oncologists, pathologists, urologists, hospitals and other reference laboratories not offering genetic testing throughout the United States. For additional information about NeoGenomics, visit http://www.neogenomics.org.
quote:Originally posted by keithsan: .191 x .23 right now. NGNM: NeoGenomics, Inc. is a clinical testing laboratory that offers genetic and molecular diagnostic testing services to the oncology and perinatology markets. NeoGenomics is headquartered in Fort Myers, FL and services the needs of oncologists, pathologists and hospitals throughout the United States. NGNM currently has an OS of 22,576,975;
This company released big news right at the end of the 3rd quarter of 2005. They do not issue a lot of news releases but they announce operational news right before the end of the quarter and we expect some for this quarter. In their last news release NGNM announced that they had begun some new testing. These results should come out in their 4th quarter filing. With the added testing, again the quarterly growth should be excellent.
Quote: "strong growth continued in the third quarter with testing volumes up over 65.3% during the quarter versus the second quarter of 2005 and up over 420% from the third quarter of 2004. NeoGenomics also announced that during the third quarter, it had begun testing operations in three new areas: breast cancer, bladder cancer and cervical cancer. "
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February 27, 2007 11:34 AM ETNeoGenomics, Inc. Announces the Licensure of its California Laboratory Location and Schedules its Q4 06 Earnings Conference Calladvertisement
Related information E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articleNEOGENOMICS INC (NGNM) Stock Quote, Chart, News All PRNewswire NewsFT. MYERS, Fla., Feb. 27 /PRNewswire-FirstCall/ -- NeoGenomics, Inc. (OTC Bulletin Board: NGNM) announced today that it has received a laboratory license for its new Irvine, California laboratory location and has received certification for this laboratory under the Clinical Laboratory Improvement Act, as amended (CLIA) through inspection by the California Department of Health.
NeoGenomics President, Robert Gasparini, said, "I am delighted to report that as a result of obtaining our license, we can now commence revenue operations at this facility. Revenues will start out modest as we continue to hire staff for this location, but, over time, we believe that California and the surrounding markets will be substantial contributors to our revenue and earnings growth. As cancer is primarily a disease of the elderly, the cancer genetics industry tends to do very well in areas where there are high concentrations of senior citizens. Indeed, the marketplace in southern California is similar in many respects to the marketplace in southern Florida, where NeoGenomics already has a substantial presence. We are excited to bring our industry-leading turn-around-times to the oncologists, urologists, pathologists and hospitals in this market and are hopeful that our services will be as warmly received in California as they have been in all of our other locations."
In other news, NeoGenomics also announced that it would release its final Q4 FY 2006 and full year earnings on Wednesday, March 14, 2007. The Company has also scheduled a web-cast and conference call to discuss these results on March 14th, at 11:00 AM EST to discuss these results. Interested investors should dial (877) 407-0778 (domestic) and (201) 689-8565 (international) at least five minutes prior to the call. A replay of the conference call will be available until 11:59 PM on March 28, 2007 and can be accessed by dialing (877) 660-6853 (domestic) and (201) 612-7415 (international). The playback account number is 286 and the playback conference ID#/PIN# is 233199. The web-cast may be accessed under the Investor Relations section of the NeoGenomics website at http://www.neogenomics.org or at the website of our Investor Relations firm, Hawk Associates, at http://www.hawkassociates.com/ngnmmore.aspx or at http://www.vcall.com/IC/CEPage.asp?ID=114420. An archive of the web-cast will be available until 11:59 PM EST on June 11, 2007.
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NeoGenomics President Featured in Exclusive Interview with WallSt.net 7:00a ET March 6, 2007 (PR NewsWire) On February 2, Bob Gasparini, President for NeoGenomics, Inc. (OTC Bulletin Board: NGNM) updated the investment community in an exclusive interview with www.wallst.net . Topics covered in the interview include an overview of the Company and the markets it serves, recent press releases, current capitalization, upcoming strategic and financial milestones.
To hear the interview in its entirety, visit www.wallst.net , and click on "Interviews." The interview can be accessed either by locating the company's ticker symbol under the appropriate exchange on the left-hand column of the "Interviews" section of the site, or by entering the company's ticker symbol in the Search Archive window.
About NeoGenomics, Inc.:
NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company's testing services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, hospitals and other reference laboratories throughout the United States. For additional information about NeoGenomics, visit http://www.neogenomics.org .
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NeoGenomics Announces Results for the Fourth Quarter and Full Year FY 2006advertisement
All PRNewswire NewsFT. MYERS, Fla., March 14 /PRNewswire-FirstCall/ -- NeoGenomics, Inc. (OTC Bulletin Board: NGNM) today announced its results for the fourth quarter and full year of fiscal 2006. Significant accomplishments during the fourth quarter and year included the following:
Fourth Quarter 2006 Accomplishments: -- 135% year-over-year increase in revenues in Q4 06 vs. Q4 05 -- 10% sequential increase in revenues in Q4 06 vs. Q3 06 -- The announcement of an industry first Tech-Only FISH product -- The doubling of our national sales-force Full Year 2006 Accomplishments: -- 243% increase in revenues during FY '06 vs. FY '05 -- Requisitions increased 221% to 9,563 requisitions in FY '06 from 2,982 in FY '05 -- Avg. Revenue/Requisition increased 7% to $677.19 in FY '06 from $632.23 in FY '05 -- Test volume increased 215% to 12,838 tests in FY '06 from 4,082 in FY '05 -- Avg. Revenue/Test increased 9% to $504.44 in FY '06 from $461.86 in FY '05 -- The acquisition of the Center for Cytogenetics in Nashville, TN -- The build-out of a NeoGenomics clinical laboratory facility in Irvine, CA -- The roll-out of our Genetic Pathology Service (GPS) productRobert Gasparini, the Company's President, stated, "2006 was a breakout year for NeoGenomics Laboratories. We expanded our geographic footprint into two new locations with the acquisition and expansion of our Tennessee facility and the investment in a new California laboratory location which just received its license in February. We now have a truly bi-coastal presence. We continue to actively pursue additional geographic locations and capacity to complete our national network of regional laboratories."
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