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Liposcience Inc (LPDX) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Liposcience Inc

CIK: 1168197 Ticker: LPDX
Exhibit 99.1


Media Contact:
 
Investor Contact:
Tori Hall
 
Bob Yedid
LipoScience, Inc.
 
ICR, Inc.
(919) 256-1046
 
(646) 277-1250
tori.hall@liposcience.com
 
bob.yedid@icrinc.com
 
 
 


LIPOSCIENCE ANNOUNCES 2013 FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS


RALEIGH, N.C., March 10, 2014
-LipoScience, Inc. (NASDAQ: LPDX), a diagnostic company pioneering a new field of personalized nuclear magnetic resonance (NMR) diagnostics to advance the quality of patient care in cardiovascular, metabolic and other diseases, today announced its financial results for the fourth quarter and full year ended December 31, 2013.

Full Year 2013 Highlights
NMR LipoProfile test unit volumes increased 6.1% to approximately 2,068,000 compared to 2012
Total revenue was $52.4 million, a reduction of 4.4% from last year
Average selling price of the NMR LipoProfile test was down 8.3% from 2012

Fourth Quarter 2013 Highlights
NMR LipoProfile® test unit volumes increased 4.4% to approximately 511,000 compared to Q4 2012
Total revenue was $12.7 million, a reduction of 6.2% from the same period last year
Average selling price of the NMR LipoProfile test was down 8.6% from Q4 2012

We are very encouraged by the increase in our unit volumes for the fourth quarter and full year, said Howard Doran, President and Chief Executive Officer. Our total revenue performance reflects a lower average selling price compared to last year due to lower contracted pricing and channel mix. We are focusing our sales force to respond to the ongoing pressure and scrutiny of test utilization, as well as greater pressure on physicians to reduce the use of out-of-network laboratory services. On the managed care front, we have received positive feedback on our use of real-world outcomes data to illustrate the clinical and economic benefits achievable through the effective management of coronary heart disease.

Recent Operational Highlights:
Three regional labs completed validation, went live and began performing NMR LipoProfile tests on the Vantera® Clinical Analyzer at their facilities
Two additional Vantera Clinical Analyzers were in validation testing in regional labs
In Q4 2013, the Company began to install new Vantera Clinical Analyzers in our CLIA-approved lab in Raleigh, which will increase the productivity and lower the cost of our laboratory operations
In January 2014, the Company modified its term debt, extending the interest-only period by twelve months


LipoScience, Inc • 2500 Sumner Blvd, Raleigh, NC 27616 • (919) 212-1999 • liposcience.com

The following information was filed by Liposcience Inc (LPDX) on Monday, March 10, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: LPDX
CIK: 1168197
Form Type: 10-K Annual Report
Accession Number: 0001168197-14-000020
Submitted to the SEC: Fri Mar 28 2014 7:31:19 AM EST
Accepted by the SEC: Fri Mar 28 2014
Period: Tuesday, December 31, 2013
Industry: In Vitro And In Vivo Diagnostic Substances

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