NeoGenomics (NASDAQ: NEO) reported Q3 EPS of $0.05, $0.03 better than the analyst estimate of $0.02. Revenue for the quarter came in at $69.1 million versus the consensus estimate of $66.33 million.

Douglas M. VanOort, the Company’s Chairman and CEO, commented, “Third quarter results were outstanding. Clinical and Pharma Services Divisions each reported record revenue. Test volume growth in our Clinical Division remained strong driven by gains in market share, and our reimbursement initiatives began to have some impact. Pharma Services Division growth reflects our ability secure larger contracts and more later-stage clinical trials.

We were also pleased to achieve record levels of profitability. Productivity gains and quality and process improvement initiatives helped drive down the average cost-per-test, and margins improved dramatically. Adjusted EBITDA improved despite our investments in a variety of future growth initiatives.

Looking forward, we are excited about a number of significant new customer wins in both divisions, and about several new strategic opportunities. We are also excited about our recently announced acquisition of Genoptix, and are beginning to plan for the integration activities. Our teams are energized about our increasing ability to provide even better service to all segments of the oncology market, including oncologists, pathologists, hospitals, and the Pharma industry.”

GUIDANCE:

NeoGenomics sees FY2018 EPS of $0.17-$0.19, versus the consensus of $0.15. NeoGenomics sees FY2018 revenue of $270-272 million, versus the consensus of $268.13 million.

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