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UPDATE 1-Genoptix Q3 profit beats Street; raises 2009 EPS view

Thu Nov 5, 2009 5:18pm EST

Stocks

   

* Q3 EPS $0.53 beats Street by 19 cents

Stocks  |  Global Markets  |  Healthcare

* Revenue rises 58 pct to $50.8 mln

* Raises FY09 EPS view to $1.60

Nov 5 (Reuters) - Laboratory services provider Genoptix Inc (GXDX.O) posted better-than-expected quarterly earnings, helped by new customers, and raised its 2009 profit view.

The company forecast fiscal 2009 earnings of $1.60 a share, on sales of $180 million. Its prior forecast was earnings of $1.40 to $1.45 a share, on revenue of $175 million to $180 million.

Analysts on average were expecting earnings of $1.45 a share, on revenue of $178.8 million for the year, according to Thomson Reuters I/B/E/S.

For the third quarter, the company reported a net income of $9.5 million, or 53 cents a share, compared with $15.4 million, or 87 cents a share, a year ago. Revenue rose 58 percent to $50.8 million.

Analysts on average expected earnings of 34 cents a share, on revenue of $46.7 million, according to Thomson Reuters I/B/E/S.

Third quarter results reflected the increase in sales and new customer acquisitions, "even during what is typically the slower summer vacation season," said Chief Executive Tina Nova.

For 2010, Genoptix expects revenue of about $235 million.

Shares of the company were up 37 cents at $35.10 in after-market trade. They closed at $34.73 Thursday on Nasdaq.

For the alerts, double-click [ID:nWNAB1506] (Reporting by Anand Basu in Bangalore; Editing by Ratul Ray Chaudhuri)



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