Medical diagnostics company LipoScience’s (Nasdaq: LPDX) says business and orders are growing.

In its first earnings report since going public in January, LipoScience said Wednesday revenues increased 8.6 percent in the fourth quarter compared to a year earlier to $13.6 million.

For the year, revenues climbed 19.6 percent to $54.8 million.

Orders for its tests grew nearly 15 percent in the fourth quarter compared to a year earlier. For the entire 12 months, orders grew 29.2 percent, the company said. 

LipoScience has developed and commercialized a diagnostic test and device that assesses a person’s cardiovascular disease risks. The company’s technology was originally developed at North Carolina State University.

LipoScience went public in January at $9 a share. It’s stock traded as high as $11.33 on Feb. 11 but the stock price has fallen since. LipoScience closed at $9.60 on March 15.

Its shares closed at $10.49 on Wednesday. 

“We were pleased with our overall performance in 2012, with revenues up 19.6% versus the prior year and a solid increase in NMR LipoProfile test orders, culminating with the successful completion of our initial public offering in late January 2013,” said Chief Executive Officer Richard Brajer. “Completion of the IPO now allows us to expand our sales force and drive toward becoming a clinical standard of care by decentralizing our technology and expanding our menu of personalized diagnostic tests.

“We believe that our strong revenue and test growth in 2012 is a clear indicator of the clinical value that the NMR LipoProfile test brings to physicians for personalized management of cardiovascular disease,” he added. “With a substantial market conversion opportunity for our proprietary NMR LipoProfile test in front of us, as well as additional assays in development that leverage our NMR-based technology on the Vantera system, we believe we are well positioned for long-term growth.”