Money Problems?



4th quarter is going to show a loss, but how much is the question? Why did BOD pony up their own money? Speculation is that outside funding couldn't be secured. Will 2011 be better than 2010? Stay tuned.
 
Says who? this is Neo's time to shine 50-60m this year new leadership, tests and whatever else they get
Someone's blowing sunshine up your ass. What happened to hitting $100M?? Didn't happen last year and won't this year. Look @ yesterday's trading-3 trades all day!! LabCorp is on a feeding frenzy-NGNM may be at the right price with market value of 57M.
 
RELATIVELY HIGH DEBT-TO-CAPITAL RATIO DETECTED IN SHARES OF NEOGENOMICS IN THE LIFE SCIENCES TOOLS & SERVICES INDUSTRY (NGNM, CBM, WAT, CRL, PRXL)
Jan 09, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the five companies in the Life Sciences Tools & Services industry with the highest Debt-to-Capital ratio. The debt-to-capital ratio is an important measure of how a company is financing its operations along with some insight into its financial strength, relative to other companies in its industry. NeoGenomics (NASDAQ:NGNM) ranks highest with Debt-to-Capital ratio of 68.48%.

A company with high debt-to-capital ratios, compared to a general or industry average, may show weak financial strength because the cost of these debts may weigh on the company and increase its default risk.
 
RELATIVELY HIGH DEBT-TO-CAPITAL RATIO DETECTED IN SHARES OF NEOGENOMICS IN THE LIFE SCIENCES TOOLS & SERVICES INDUSTRY (NGNM, CBM, WAT, CRL, PRXL)
Jan 09, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the five companies in the Life Sciences Tools & Services industry with the highest Debt-to-Capital ratio. The debt-to-capital ratio is an important measure of how a company is financing its operations along with some insight into its financial strength, relative to other companies in its industry. NeoGenomics (NASDAQ:NGNM) ranks highest with Debt-to-Capital ratio of 68.48%.

A company with high debt-to-capital ratios, compared to a general or industry average, may show weak financial strength because the cost of these debts may weigh on the company and increase its default risk.
Money problem is an understatement.
 
Neo can not survive. With the Urovysion rates being cut in half and the change in rules on tech only HEMEFISH it will mean their demise. Anyone who needs to borrow from the Gov't can not survive. How are they going to compete with GE/CLARIENT and the new Novartis Genoptix Merger. Oh and even without the buyout clarient would have done double the sales of Neo, all you had to do was read the press last year. Clarient was saying they were getting increased revenue per test and that their menu and client base had grown.. NEO mangement kept whinning that they were not growing as expected because the payment per test they were getting had decreased!! Excuses Excuses....Also most derms have said their Melonoma test is really not a neccesary test. I think they should crawl to Clarient and ask if they want to buy any of their facilities. Also a 300k Gov't Grant is nothing...that is like two weeks of revenue for most pathology labs.
Good bye NEO
 
the CMS folks and FDA have determined that FISH is a clinical test and that Pathology profeesional codes can not be billed. This is going to take place within the year. Neo is one of the only national labs that has not showed up at one meeting to try and change their mind. I should knoiw my fatherin law works for CMS.
Oh and 5% of 1,000.00 is still only $50.00. You guys better beg someone to buy you. Hey I hear that Siemens is interested in emulating what GE Did....oh wait we only buy profitable innovative companies...
 
A half year later and sales is still catching all the blame for this broken business model. Might as well reprint this article again for Q4.

Fort Myers-based NeoGenomics loses money during second quarter
By LAURA LAYDEN
Naples Daily News
Posted July 29, 2010 at 6:19 p.m.FORT MYERS — Doug VanOort, chairman and CEO of NeoGenomics, had one word to describe the company’s second quarter results — “unacceptable.”

The Fort Myers-based company, which specializes in genetic testing for cancer, lost money and revenue grew less than expected.

“An important core value for NeoGenomics is accountability. Among other things, accountability means to us that we take responsibility for our results,” VanOort said during a conference call with analysts on Thursday.

He said the publicly-traded company strives to keep its promises and to do what it says it will do, but that didn’t happen in the last quarter.

“We missed our quarterly guidance and we’re obviously disappointed about that,” VanOort said.

Revenue for the quarter ending June 30 was $8.5 million, up 14 percent from $7.5 million in the same quarter a year ago.

The company lost $978,000 last quarter, or 3 cents a share. A year ago, it reported $8,000 in profits.

Originally, the company estimated quarterly revenues at $8.8 million to $9.92 million and expected to report a net loss of no more than 2 cents share. Based on Reuters estimates, analysts were looking for earnings of 1 cent a share on revenue of $9 million.

“While we are certainly disappointed with our revenue growth in the second quarter, we are very pleased and proud of our company’s quality and services, organizational health and most importantly our people,” VanOort said.

Operationally, he said, the company is in its strongest position ever and the future looks bright.

He said four factors are hurting the company’s growth: The sales team is not where it should be, the revenue per test has been on the decline, the company is still feeling the impact from a decision by one of its largest clients to internalize bladder cancer testing and orders for its new melanoma test are coming in slower than expected.

In the second quarter, test volume increased by 28 percent over a year ago. But the average revenue per test was down 11 percent from last year, due to changes in the types of tests ordered and reductions in insurance reimbursements.

The company is taking steps to address its challenges, including making changes in its leadership. It has recruited an “outstanding” sales and marketing executive, VanOort said, but his name isn’t being revealed yet. Until he’s hired, the sales team will report directly to VanOort.

The company has negotiated new contracts with Blue Cross/Blue Shield and Aetna that should help stabilize the average price of its tests and give it new opportunities for growth. It’s now an in-network provider for the two companies, which should increase sales, VanOort said.

More managed care companies are encouraging physicians not to use laboratories that are out of network because costs can be much higher. That has hurt NeoGenomics, VanOort said.

Market acceptance of the new melanoma test hasn’t been as quick as expected, said Bob Gasparini, the company’s president and chief scientific officer. He described it as “powerful,” saying it has already helped diagnose melanoma in kids as young as 14. For others, it has brought tears of joy that they don’t have cancer, but just a funny looking mole.

New marketing pieces are being introduced for the melanoma test and a scientific paper will soon be published, adding more credibility to it, Gasparini said. Although the sales force is not as productive as it should be, Steven Jones, the company’s chief financial officer, said the business model is “anything but broken” at NeoGenomics.
 
Can we talk about how and why "said company" internalized their UroVysion bladder FISH test? BG family member was heading the process of helping them do so! Why help their biggest UroVysion contributor's laboratory learn to process this test? I think the whole gas crew needs to go. Glad I was let go and now doing much better at "said company"
 


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