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Transgenomic, Inc. Reports Second Quarter 2009 Results
Date:8/12/2009

OMAHA, Neb., Aug. 12 /PRNewswire-FirstCall/ -- Transgenomic, Inc. (OTC Bulletin Board: TBIO) today announced financial results for the quarter ended June 30, 2009. The Company's financial results are presented in the tables that follow.

Second Quarter 2009

The Company reported a net loss of $730,000 or $0.01 per share for the second quarter of 2009 as compared to net income of $101,000 or $0.00 per share for the second quarter of 2008.

Net sales from continuing operations were $5.5 million during the second quarter of 2009, compared to $6.2 million during the comparable period of 2008. Gross profit from continuing operations was $2.7 million or 48 percent during the second quarter of 2009 compared to $3.7 million or 60 percent during the comparable period of 2008. Operating expenses from continuing operations were $3.4 million during the second quarter of 2009 compared to $3.7 million during the same period of 2008. Excluding the impact of foreign currency revaluation gains/losses, operating expenses were down by $672,000 in the second quarter of 2009 compared to the same period of 2008.

Cash and cash equivalents totaled $4.8 million at June 30, 2009 which is unchanged from December 31, 2008.

Six Months Ended June 30, 2009

The Company reported a net loss of $1.7 million or $0.03 per share for the six months ended June 30, 2009, compared to net income of $223,000 or $0.00 per share during the comparable period of 2008.

Net sales from continuing operations were $10.5 million for the six months ended June 30, 2009, compared to $12.5 million during the comparable period of 2008. Gross profit from continuing operations was $5.5 million or 52 percent for the six months ended June 30, 2009, compared to $7.4 million or 59 percent in 2008. Operating expenses from continuing operations were $7.2 million for
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SOURCE Transgenomic, Inc.
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