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Transgenomic Reports Third Quarter Financial Results
Date:11/15/2010

OMAHA, Neb., Nov. 15, 2010 /PRNewswire-FirstCall/ -- Transgenomic, Inc. (OTC Bulletin Board: TBIO) today reported financial results for the three and nine months ended September 30, 2010, and provided a business update.  The Company has rescheduled the conference call to discuss third quarter financial results to Monday, November 22, 2010 at 5:00 p.m. Eastern time, whereas previously the call was to be held at 5:00 p.m. Eastern time today.

Nine Month Financial ResultsNet sales were $15.0 million for the nine month period ended September 30, 2010 compared with $15.5 million for the same period of 2009.  Gross profit was $7.4 million or 49% of net sales for the 2010 period, compared with gross profit of $8.2 million or 53% of net sales for the 2009 period.  Operating expenses for the nine months ended September 30, 2010 were $9.6 million, compared with $10.4 million during the comparable period of 2009.  Operating expenses included expense from foreign currency revaluation of $0.3 million in both periods.

The Company reported a net loss for the nine months ended September 30, 2010 of $2.4 million or $0.05 per share, compared with a net loss of $2.0 million or $0.04 per share during the comparable period of 2009.

Third Quarter Financial Results

Net sales were $4.4 million during the third quarter 2010, compared with $5.0 million during the comparable period of 2009. Gross profit was $2.0 million or 46% of net sales during the third quarter of 2010, compared with gross profit of $2.8 million or 55% of net sales during the comparable period of 2009.  Operating expenses were $2.8 million during the third quarter of 2010, which included income from foreign currency revaluation of $0.2 million.  Operating expenses were $3.2 million during the
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SOURCE Transgenomic, Inc.
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