Transgenomic Posts Narrowed Q3 Loss, Expects Profitability in 02 | GenomeWeb

NEW YORK, Oct. 31 - Transgenomic reported a third-quarter net loss of 8 cents per share on top of revenues of $10.3 million, a 64 percent increase over the same period last year, and said it intends to become profitable by the end of 2002.

“The strength of our balance sheet, with $47 million in cash and investments, with no debt, gives us the resources needed to execute our plan to achieve profitability by the end of 2002,” CEO Collin D'Silva said in a statement.

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