OMAHA, Neb.--(BUSINESS WIRE)--Transgenomic, Inc. (NASDAQ: TBIO) today reported financial results for the second quarter ended June 30, 2015, and provided a business update.
Second Quarter Financial Results
Net sales for the second quarter of 2015 were $7.0 million, a 4% increase over the $6.8 million in net sales for the same period in 2014. However, the increase over the same period in 2014 was approximately 11% after adjusting for the sale in the third quarter of 2014 of the Company’s Surveyor Kits product line. Sales in the Company’s Laboratory Services segment increased by $1.0 million in the second quarter of 2015 compared to the year-earlier period, a 26% increase. This reflects higher sales of patient tests, spurred by a number of new products launched in late 2013, along with increased sales of Transgenomic’s contract laboratory services. In the Genetic Assays and Platforms segment, net sales in the second quarter of 2015 decreased by $0.7 million, or 25%, as compared to the same period in 2014, as a result of lower bioconsumables and instrument sales. The decrease in bioconsumables sales was primarily due to the divestiture of the Surveyor Kits product line in the third quarter of 2014.
Help employers find you! Check out all the jobs and post your resume.
Second Quarter Financial Results
Net sales for the second quarter of 2015 were $7.0 million, a 4% increase over the $6.8 million in net sales for the same period in 2014. However, the increase over the same period in 2014 was approximately 11% after adjusting for the sale in the third quarter of 2014 of the Company’s Surveyor Kits product line. Sales in the Company’s Laboratory Services segment increased by $1.0 million in the second quarter of 2015 compared to the year-earlier period, a 26% increase. This reflects higher sales of patient tests, spurred by a number of new products launched in late 2013, along with increased sales of Transgenomic’s contract laboratory services. In the Genetic Assays and Platforms segment, net sales in the second quarter of 2015 decreased by $0.7 million, or 25%, as compared to the same period in 2014, as a result of lower bioconsumables and instrument sales. The decrease in bioconsumables sales was primarily due to the divestiture of the Surveyor Kits product line in the third quarter of 2014.
Help employers find you! Check out all the jobs and post your resume.
