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COPYRIGHT 2001 PR Newswire Association LLC
Quarterly and Year-To-Date Life Science Revenues Up Over 60 Percent
From the Comparable 1999 Periods
SAN JOSE, Calif. and OMAHA, Neb., Jan. 31 /PRNewswire/ --
Transgenomic, Inc. (Nasdaq: TBIO) today announced financial results for the quarter and 12 months ended December 31, 2000. The company's historical financial results, which are presented in the tables below, include results of non-life science products through March 31, 2000. The company sold the assets related to the non-life science products as of that date.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000314/CGTU026 )
Life sciences revenues for the fourth quarter of 2000 reached a record $7.1 million, 63 percent greater than life sciences revenues for the fourth quarter of 1999. Revenue growth was fueled by increased demand from existing customers and new commercial/industrial entities. The net loss for the quarter was $374,000, or $0.02 per share. This included a one-time gain, net of taxes, of $604,000 related to the sale of the assets of the non-life sciences product line.
"Transgenomic's fourth quarter results are further evidence of the validation of our technology as an essential tool for the genomics community," said Collin D'Silva, chief executive officer. "During the quarter approximately 20 percent of the units sold specifically for variation detection applications went to existing customers. In...
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