NeoGenomics expects higher revenues

FORT MYERS — Cancer-testing firm NeoGenomics says it expects higher sales and earnings as a result of an acquisition last year.

NeoGenomics says it now expects revenue of approximately $25 million and earnings per share of approximately 1 to 2 cents for the fourth quarter. Previously, the company said fourth-quarter revenues would range from $23 million to $24.5 million and earn a penny per share.

“On a consolidated basis, including the results of our newly acquired PathLogic business, we are expecting approximately 36% year-over-year revenue growth in the fourth quarter,” says Douglas VanOort, NeoGenomics' chairman and CEO, in a statement.

NeoGenomics acquired California-based PathLogic in July, a provider of specialized anatomic pathology services, for $6 million. Headquartered with a lab in Fort Myers, NeoGenomics also has labs in Tampa, Nashville, Irvine, Cal. NeoGenomics provides cancer-testing services for pathologists, oncologists, other clinicians and hospitals throughout the United States.

“Approximately 23% of this growth is coming from our core NeoGenomics business and the remainder from PathLogic,” VanOort says in the statement. “The improvement in earnings guidance reflects continued strength in our underlying business.”

NeoGenomics plans to publish fourth-quarter earnings and host an investor conference call Feb. 24, 2015.