Transgenomic, Inc. Reports Third Quarter 20...(es were $10.4 million for the nine month...)

Date:11/5/2009

es were $10.4 million for the nine months ended September 30, 2009 compared to $10.6 million during the same period of 2008. Excluding the impact of foreign currency revaluation gains/losses, operating expenses were down by $976,000 for the nine months ended September 30, 2009 compared to the same period in 2008.

Comment and Outlook

Craig Tuttle, the Company's President and Chief Executive Officer, noted, "Net sales for the third quarter declined slightly from the second quarter of 2009. This decrease is primarily attributable to lower instrument sales in the U.S. as well as an expected quarterly decline in our reference laboratory net sales related to summer vacations in the U.S. We also had two OEM instrument sales that ended up closing in October that were expected in the third quarter. This gives us confidence that fourth quarter net sales will show marked improvement."

Tuttle continued, "We remain heavily engaged in development and validation of our mitochondrial DNA damage assay applications, our licensed NuroPro assays for Alzheimer's and Parkinson's disease and our recently announced license for Cold-PCR from the Dana-Farber Cancer Institute. We have already seen strong interest from potential customers for Cold-PCR and hope to have one or more pharma studies initiated during the fourth quarter. Our beta site trials for our K-Ras mutation detection kit have been completed and this kit, the first of several expected, will be launched shortly."

Earnings Call

Company management will discuss third quarter 2009 financial results via teleconference on Thursday, November 5th, at 5:00 p.m. Eastern Time. To access the call via telephone, dial 800-862-9098 or 785-424-1051. The Company will also host a live broadcast of the call over the Internet. To listen to the webcast, investors should log on to the Company's Investor Relations web page at

SOURCE Transgenomic, Inc. Copyright©2009 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7
Related biology technology :

1. Transgenomic, Inc. Reports Second Quarter 2009 Results
2. Transgenomic, Inc. Announces Appointment of New Board Members
3. Transgenomic, Inc. Reports First Quarter 2009 Results
4. Transgenomic, Inc. Reports Fourth Quarter and Fiscal Year 2008 Results
5. Transgenomic, Inc. Reports Third Quarter 2008 Results
6. Transgenomic, Inc. Forms Scientific Advisory Board
7. Transgenomic, Inc. Reports Second Quarter 2007 Results
8. BioSpecifics Technologies Corp. Reports Third Quarter 2009 Financial Results
9. Nektar Therapeutics Reports Third Quarter 2009 Financial Results
10. Clarient Reports 2009 Third Quarter; Nine Month Results
11. Optimer Pharmaceuticals Reports Third Quarter 2009 Financial Results