Company Attributes 15,814 Percent Revenue Growth to its Physician-Directed Diagnostic Approach
Oct. 20, 2009 (PR Newswire) --
CARLSBAD, Calif., Oct. 20 /PRNewswire-FirstCall/ -- Genoptix, Inc. (Nasdaq: GXDX), a specialized laboratory services provider, today announced that it ranked number 15 on Technology Fast 500(TM), Deloitte LLP's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five year period from 2004-2008. Genoptix grew 15,814 percent during this period.
"We are honored to rank among the top 20 fastest-growing technology companies in North America for the second year in a row," said Tina S. Nova, Ph.D., President and CEO of Genoptix, which last year was ranked number nine on the Technology Fast 500. "Our specialized, physician-directed approach to testing and diagnosis continues to drive increasing demand for our services nationwide. We have grown rapidly by focusing on the needs of community-based hematologists and oncologists, and this recognition is a testament to the exceptional execution of the entire Genoptix team."
In addition, Genoptix was ranked the second fastest-growing company in the San Diego region, according to the Technology Fast 500. Genoptix reported revenues of $116.2 million, $59.3 million, $24.0 million, $5.2 million, and $0.7 million in 2008, 2007, 2006, 2005 and 2004, respectively. In the second quarter of 2009, the company managed more than 14,200 patient cases and serviced approximately 1,250 community based hematologists and oncologists across the country during the month of June. Genoptix had 360 employees as of June 30, 2009.
"Technology Fast 500(TM) recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate Genoptix on this accomplishment."
Technology Fast 500(TM) Selection and Qualifying Criteria
Technology Fast 500(TM) provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500(TM) website, and public company database research conducted by Deloitte.
