Transgenomic, Inc. (TBIO) Reports Fourth Quarter and Fiscal Year 2012 Financial Results
3/14/2013 6:23:29 AM
ansgenomic, Inc. (OTCBB: TBIO) today reported financial results for the fourth quarter and year ended December 31, 2012 and provided a business update.
Fourth Quarter Financial Results
Net sales for the fourth quarter of 2012 were $7.3 million compared with $8.6 million for the same period in 2011. The decline was principally driven by lower revenues in the Diagnostic Tools segment reflecting a decline in OEM instrument sales. Clinical Laboratories sales were modestly below a strong prior year quarter. These declines were partially offset by strong revenue growth in the Pharmacogenomics Services segment.
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