NEW YORK, Jan. 3 - Transgenomic reported that fourth-quarter sales would be as much as 15 percent thinner than earlier predictions as the company struggles to meet higher demand for its products.
The firm said it now expects revenues for the quarter ended Dec. 31 to be between $10.3 million and $10.6 million, which is still about 40 percent higher than what it reported during the same period last year. Full-year 2001 revenue in this case would be about $38 million.
In a statement released on Wednesday, Collin D'Silva, Transgenomic's CEO, said the company expects to grow by 45 percent to 55 percent in 2002, and reasserted his belief that the company will become profitable by the end of the year.
The company blamed its shrunken outlook on capacity constraints. The first phase of a manufacturing upgrade designed to help it meet the rising demand for its synthetic nucleic-acid products is set to end by the end of the current quarter.