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Transgenomic Reports Fourth Quarter Financial Results
Date:2/24/2010

$495,000 or $0.01 per share.

Net sales for 2009 were $22.0 million, compared with $24.0 million for 2008.  Gross profit was $11.6 million or 53 percent of net sales for 2009, compared with gross profit of $13.6 million or 57 percent of net sales for 2008.  Operating expenses were $13.5 million for 2009, which included expense from foreign currency revaluation of $0.3 million.  Operating expenses for 2008 were $14.0 million, which included a goodwill impairment of $638,000, income from foreign currency revaluation of $1.0 million and a restructuring charge of $118,000.  Cash flow from operations was $1.3 million for 2009, compared with cash flow used in operations of $413,000 for 2008.  

Comment and Outlook

Craig Tuttle, president and chief executive officer, commented, "We took a number of steps in the fourth quarter of 2009 that are expected to have a positive effect on the financial
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SOURCE Transgenomic, Inc.
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