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

both the six months ended June 30, 2008 and 2009. Excluding the impact of foreign currency revaluation gains/losses, operating expenses were down by $812,000 for the six months ended June 30, 2009 compared to the same period in 2008.

Comment and Outlook

Craig Tuttle, the Company's President and Chief Executive Officer, noted, "It is rewarding to see a sales rebound well above our first quarter results. While we have not quite reached quarterly sales at our former run rate prior to the economy decline, sales in second quarter did increase $500,000 above first quarter. In addition, we do see interest in new instrument sales opportunities throughout the remainder of this fiscal year and next year. Budget approval processing will drive the timing of these sales. We are seeing several new projects in our Pharmacogenomics lab which have the potential to move forward toward full clinical trial studies as well as a number of discovery projects with a similar outcome potential. As such, we are optimistic that sales will return to our 2008 levels within a quarter or two. In addition, with significant product launches targeted for the fourth quarter, notably our high sensitivity assay for KRAS mutations as well as our NuroPro assays for Alzheimer's and Parkinson's disease, we anticipate a return to year-over-year sales growth by next year. Equally positive, our Molecular Diagnostic Laboratory has grown to 62% in the six months ended June 30, 2009 compared to the same period in 2008. This growth rate remains below our full year 2008 growth which was 70% year-over-year. When the economic situation improves, we fully expect an improvement in the growth rate in our diagnostic testing net sales. In addition there will be impact related to the new assays being added."

Earnings Call

Company management will discuss second quarter 2009 financial results via teleconference on Wednesday, August 12th, at 5:00 p.m. Eas
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SOURCE Transgenomic, Inc.
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