Transgenomic, 'Very Disappointed,' Posts 26-Percent Slide in Q3 Revenue; Hires Bank to Help With Strategy | GenomeWeb
NEW YORK (GenomeWeb News) - Transgenomic today said third-quarter revenues decreased 26 percent as R&D spending rose 15 percent and income turned swung to a loss.
 
Total receipts for the three months ended Sept. 30 decreased to $4.9 million from $6.7 million year over year.
 
"We were very disappointed in our sales," CEO and President Craig Tuttle said. The company added that it has hired Thomas Weisel Partners to help it figure out how to “maximize shareholder value” in the short- and long-term.

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