OMAHA, Neb.--(BUSINESS WIRE)--Transgenomic, Inc. (OTCBB: TBIO) today reported financial results for the year ended December 31, 2011 and provided a business update.
“Transgenomic enjoyed a landmark year in 2011, with revenue growth quarter-over-quarter and year-over-year as well as an attention to expense management translating into positive modified EBITDA for both the fourth quarter and full year 2011 periods,” said Craig Tuttle, President and Chief Executive Officer. “Our year-over-year top line increase of 59%, to $32 million in revenue for 2011, reflects growth in both our clinical reference labs and pharmacogenomics lab businesses. These encouraging top- and bottom-line results were achieved without compromising our investment in the development of groundbreaking new technologies. Supporting our strategic direction, and adding substantially to shareholder equity, was a $22 million private placement financing executed last month with a number of top-tier life sciences investors.”
