Genomic Health Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Full Year 2017; Provides Earnings Guidance for the Fourth Quarter of 2017
For the nine months, the company reported total revenues of $253,287,000 compared to $245,126,000 a year ago. Loss from operations was $8,600,000 compared to $16,924,000 a year ago. Loss before income taxes was $4,374,000 compared to $14,807,000 a year ago. Net loss was $5,736,000 or $0.17 per basic and diluted share compared to $15,271,000 or $0.46 per basic and diluted share a year ago. Total non-GAAP adjusted after tax was $1,263,000 compared to $938,000 a year ago. Non-GAAP loss from operations was $5,351,000 compared to Non-GAAP loss from operations of $14,324,000 a year ago. Non-GAAP net loss was $4,473,000 compared to Non-GAAP net loss of $14,333,000 a year ago. The company delivered $15 million in adjusted EBITDA. Adjusting for the Biocartis transaction cost in the third quarter, this would have been $18 million in adjusted EBITDA.
For the full year, the company expects to deliver profit, excluding the $3.2 million cost of the Biocartis transaction. The company expects to meet the low end of its full year revenue guidance, which is $345 million, excluding the estimated hurricane impact on revenue of approximately $3 million in the third quarter.
For the fourth quarter, revenue is expected to be approximately $89 million and to grow approximately 9% over the fourth quarter of 2016. Net income is expected to exceed $2.5 million, an improvement over third quarter results and will represent 10th consecutive quarter of improved profitability. In addition, the company expects to deliver more than $10 million in adjusted EBITDA in the fourth quarter.