Transgenomic, Inc. (TBIO) Reports Fourth Quarter And Fiscal Year 2013 Financial Results
3/13/2014 6:46:21 AM
Transgenomic, Inc. (OTC/BB: TBIO) today reported financial results for the fourth quarter and year ended December 31, 2013, and provided a business update.
Fourth Quarter Financial Results
Net sales for the fourth quarter of 2013 were $6.2 million compared with $7.3 million for the same period in 2012. The decline in 2013 is mainly attributable to decreased volume in the Laboratory Services segment, principally in the Neurology business, and an unfavorable shift in mix, as a surplus of higher-priced tests were reported in last year’s fourth quarter following a production disruption.
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