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Transgenomic Reports First Quarter Financial Results
Date:5/12/2011

ny.  Accordingly, our computation of Modified EBITDA may not be comparable with a similarly-titled measure of another company.The following sets forth the reconciliation of Net Loss to Modified EBITDA for the periods indicated:Three Months Ended March 31,20112010NET LOSS$  (2,778)

$
(324)INTEREST EXPENSE238

—INCOME TAXES BENEFIT(6)

(51)DEPRECIATION AND AMORTIZATION494

165PREFERRED STOCK  EXPENSES2,027

—STOCK OPTION EXPENSE9

1MODIFIED EBITDA$  (16)

$  (209)Transgenomic, Inc.Summary Financial ResultsUnaudited Condensed Consolidated Summary Balance Sheet Information(dollars in thousands)March 31,2011December 31,2010ASSETSCURRENT ASSETS:Cash and cash equivalents

$  3,170

$  3,454Accounts receivable

7,551

7,601Inventories

3,163

3,344Other current assets

762

635Total current assets

14,646

15,034PROPERTY AND EQUIPMENT, NET

1,661

1,602OTHER ASSETS:Goodwill

6,275

6,275Intangibles

8,664

8,962Other assets

152

154$31,398

$32,027LIABILITIES AND STOCKHOLDERS' EQUITYTotal current liabilities

8,340

8,253Long term debt less current maturities

8,640

8,640Series A convertible preferred stock liabilities

7,914

5,791Other long term liabilities

918

843Total liabilities

25,812

23,527STOCKHOLDERS' EQUITY

5,586

8,500$  31,398

$  
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SOURCE Transgenomic, Inc.
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