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Transgenomic, Inc. (TBIO) Reports First Quarter 2013 Financial Results



5/9/2013 7:23:41 AM

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Transgenomic, Inc. (OTCBB: TBIO) today reported financial results for the first quarter ended March 31, 2013 and provided a business update.

First Quarter Financial Results

Net sales for the first quarter of 2013 increased by $0.2 million, or 2%, to $7.4 million compared to $7.2 million for the same period in 2012. The increase from last year’s first quarter was principally driven by an 11% increase in the Laboratory Services unit, reflecting higher test volumes from our Nuclear Mitome, ScoliScoreTM and C-GAAP diagnostic tests, as well as a modest shift toward higher priced tests. This increase was partially offset by lower sales of instruments in the Diagnostic Tools segment.

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