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Transgenomic Posts Slight Increase in Revenues, Widening Losses for Q2

NEW YORK, Aug. 16 (GenomeWeb News) - Transgenomic reported increased revenues and widening losses for the second quarter of 2004 last week.

 

The company booked $9 million in revenues for the quarter, up from $8.5 million during the same quarter last year.

 

R&D costs decreased to $1.7 million, down from $2.4 million during the same period a year ago.

 

Transgenomic's net loss for the quarter amounted to $15.1 million, or $.52 per share, up from $4.7 million, or $.2 per share, during the second quarter a year ago. This loss included a $12 million non-cash impairment charge related to the company's nucleic acids operating segment.

 

As of June 30, Omaha, Neb.-based Transgenomic had $2.1 million in cash, cash equivalents, and short-term investments.

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