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news.Transgenomic, a biotechnology company, has reported a net loss of $219,000, or $0 per share, for the fourth quarter of 2008, as compared to a net income of $212,000, or $0 per share, for the fourth quarter of 2007.
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The company reported a net loss of $495,000, or $0.01 per share, for the year ended December 31, 2008, compared to a net loss of $2.11 million, or $0.04 per share, for the year ended December 31, 2007.
Transgenomic reported net sales of $6.13 million for the fourth quarter of 2008, compared to $6.53 million for the same period of 2007. For the year ended December 31, 2008, the company reported net sales of $23.99 million, compared to $23.18 million for the year ended December 31, 2007.
Craig Tuttle, president and CEO of Transgenomic, said: “We are quite pleased with the overall results of the year. Our molecular reference lab grew 70% in the year and we continued to make gains in our pharmacogenomics services business by adding several key new pharma customers. With this growth in our services business, our previous significant effort in cost reduction and investment in our sales organization, we have achieved close to breakeven performance for the year.”