Genoptix (GXDX) Rops Q3 EPS by 21c; Guides Higher for FY09; 2010 Revs In-line

November 5, 2009 4:56 PM EST

Genoptix (NASDAQ: GXDX) reports Q3 EPS of $0.53, cents better than the analyst estimate of $0.34. Revenue for the quarter was $50.8 million, which compares to the estimate of $46.72 million.

Recognizing the strength of our collection efforts and financial results in the third quarter, Genoptix expects revenues for the full-year 2009 of approximately $180 million with full-year gross margins of approximately 60%. (Consensus is 178.81M)

Operating margins for 2009 are expected to be in the mid- to high-twentieth percentile, with net income of approximately $29 million, up from prior estimates of approximately $25 million. Diluted EPS for the full-year 2009 is now expected to be approximately $1.60, increasing from a prior range of $1.40 to $1.45, on about 18.0 million shares. This assumes a tax rate of approximately 44%, down from initial estimations of 45%. (consensus is $1.45)

Based on continued infrastructure expansion and implementation of its strategic plan, the Company projects capital expenditures of $8.5 million for the full-year 2009, which includes approximately $4.5 million in maintenance capital. A planned laboratory expansion beginning this quarter is now expected to cost approximately $9.5 million, with approximately $4 million to be spent in 2009 and the remainder in the first half of 2010.

For 2010, revenues are expected to grow to approximately $235 million. The Company intends to provide more detailed guidance in February when reporting results for the fourth quarter. (Consensus is 232.67M)

Related Categories

Earnings
Guidance

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?