NeoGenomics reports profit

FORT MYERS — Cancer-testing firm NeoGenomics reported a profit for the quarter ending March 31 after revenues surged 72% compared with the same quarter one year ago.

The Fort Myers-based company reported net income of $603,000 on revenues of $15.1 million in the quarter ending March 31. In the same quarter one year ago, NeoGenomics reported a net loss of $893,000 on revenues of $8.8 million.

“For the fourth quarter in a row we posted the largest year-over-year and sequential quarterly revenue increases in our corporate history, and for the first time we surpassed $15 million in quarterly revenue,” says Douglas VanOort, the company's chairman and CEO.

VanOort attributed the growth of the company's revenues to new cancer tests NeoGenomics has developed and a recent licensing agreement with Health Discovery Corp.

NeoGenomics' stock is publicly traded (symbol: NGNM; recent price: $1.74).