Genoptix Reports Third Quarter EPS of $.24

Genoptix, Inc. GXDX today reported revenues of $49.5 million for the third quarter of 2010. Net income was $4.4 million or $0.24 per diluted share for the quarter. Third quarter revenues of $49.5 million include a $1.6 million benefit from changes in accounting estimates resulting from cash collections in excess of revenue recognized in prior periods. Third quarter revenue decreased 3% from revenue of $50.8 million for the comparable period in 2009, which included a $4.4 million benefit from changes in accounting estimates. When excluding changes in accounting estimates for each period, third quarter 2010 revenues increased by approximately 3% year-over-year.