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Transgenomic Reports Fourth Quarter Financial Results
Date:3/10/2011

n as of December 31, 2010, compared with $5.6 million as of December 31, 2009.  Cash flow used in operations was $1.7 million for 2010, compared with cash flow provided by operations of $1.3 million for 2009. 

Comment and OutlookCraig Tuttle, president and chief executive officer, commented, "We have substantially increased our footprint in the molecular diagnostics laboratory market through our recent acquisition of the Clinical Data FAMILION product line, which includes a CLIA laboratory facility and business.  This acquisition brings us approximately $13.0 million in new annual revenues and a much larger presence both with insurers and patients.  This acquisition also provides us access to higher throughput technologies and an expert staff to aid us in growing our reference laboratory business."  

"We continue to leverage our core instrument business for on-going instrument sales worldwide as well as employ our instruments and related expertise in our two laboratory services businesses.  We anticipate growth in both of our laboratory services businesses and we continue to seek out new assay technologies and tests to license or develop internally to expand our menu offerings for both of these service businesses."

Conference CallCompany management will discuss fourth quarter and full year 2010 financial results and answer questions during a conference call tomorrow beginning at 11:00 a.m. Eastern time. To access the call via telephone, please dial 800-895-1715 or 785-424-1059.  The call also will be broadcast live over the Internet. To listen to the webcast, please log onto the Company's Investor Relations web page at http://www.transgenomic.com/events.asp?id=6 and follow the instructions. An archived recording of the call can be accessed using the same link listed above for 14 days after the call. Investors can also listen to a replay via telepho
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SOURCE Transgenomic, Inc.
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