NEW YORK, Feb. 24 (GenomeWeb News) - Transgenomic today reported a 7 percent drop in fourth-quarter revenues year over year, coupled with narrowed net losses, lower R&D spending, and dwindling cash reserves.

The company's revenues for the fourth quarter ended Dec. 31, 2003, were $8.5 million, down from $9.2 million in the year-ago period.

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