-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Rh5u5HF7deE6ccaqEQiTw3uw1AVg7MKdEXxxZOxxOE3shXByXXX3uM/WoDbhp+Gi ek1iHnt08LhB5OMyIkx9zg== 0001104659-03-015003.txt : 20030717 0001104659-03-015003.hdr.sgml : 20030717 20030717120135 ACCESSION NUMBER: 0001104659-03-015003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030715 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRANSGENOMIC INC CENTRAL INDEX KEY: 0001043961 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] IRS NUMBER: 911789357 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30975 FILM NUMBER: 03790673 BUSINESS ADDRESS: STREET 1: 12325 EMMET ST CITY: OMAHA STATE: NE ZIP: 68164 BUSINESS PHONE: 4027385480 MAIL ADDRESS: STREET 1: 12325 EMMET STREET CITY: OMAHA STATE: NE ZIP: 68164 8-K 1 a03-1154_18k.htm 8-K

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):

July 15, 2003

 

TRANSGENOMIC, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware

 

000-30975

(State of Formation)

 

(Commission File Number)

 

 

 

911789357

(IRS Employer Identification Number)

 

 

 

12325 Emmet Street
Omaha, NE

 

68164

(Address of principal executive offices)

 

(Zip Code)

 

 

 

(402) 452-5400

(Registrants’ telephone number, including area code)

 

Not applicable

(Former name or former address, if changed since last report)

 

 

 

Item 7.  Financial Statements and Exhibits.

 

(c)  Exhibits

 

99.1                           Press Release, dated July 15, 2003, announcing certain preliminary results of operations for the registrant’s quarter ended June 30, 2003.

 

Item 9.  Regulation FD Disclosure.

 

The information contained in this Item 9 of this Current Report is being furnished pursuant to “Item 12.  Results of Operations and Financial Condition” of Form 8-K in accordance with SEC Release Nos. 33-8216; 34-47583.

 

The information in this Current Report (includin g the exhibit) shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section.  The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

 

On July 15, 2003, Transgenomic, Inc. (the “Company”) issued a press release announcing certain preliminary results of operations for the quarter ended June 30, 2003.  The Company is attaching the press release as Exhibit 99.1 to this Current Report on Form 8-K.

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

TRANSGENOMIC, INC.

 

 

 

 

 

By

/s/ Michael J. Draper

 

 

 

Michael J. Draper, Chief Financial Officer

 

 

July 15, 2003

 

 

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 EX-99.1 3 a03-1154_1ex991.htm EX-99.1

Exhibit 99.1

 

Tuesday, July 15, 2003

 

COMPANY PRESS RELEASE

 

Transgenomic Inc. Updates Second Quarter 2003

Closes Previously Announced Credit Facility

 

OMAHA, Neb., July 15 / PRNewswire / — Transgenomic Inc. (Nasdaq: TBIO) today reported that it expects sales for the second quarter to be approximately $8.4 million. These preliminary results compare to sales of $9.4 million in the second quarter of 2002. Operating expenses are expected to be approximately $7.1 million for the quarter as compared to $8.9 million in the second quarter of 2002. Operating expenses for the current quarter included restructuring charges of approximately $475,000.

 

The sales decline is due to weakness in the company’s nucleic acid business unit. Biosystems business unit sales were comparable to the first quarter of 2003 and were greater than 15% higher than the second quarter of 2002. The biosystems business unit continues to show signs of longer-term improvement.

 

“We continue to suffer from a lack of revenue visibility in our nucleic acid business, as some of our pharmaceutical and biopharmaceutical customers deal with details of timing and logistics,” said Collin D’Silva, CEO. “We continue our ongoing efforts to further diversify our revenue stream and expand our product offerings. We are confident that the planned launch of several product line extensions will help to solidify biosystems business unit revenues, and we remain optimistic about improvement in our nucleic acids business,” he added.

 

Michael Draper, CFO, commented that the reduced level of operating expenses and the near completion of major capital projects would decrease the future cash burn rate. He also noted that during the second quarter the company finalized a previously announced $5.0 million line of credit. According to Draper, “Going forward, our liquidity has been enhanced by the line of credit and the expected reduction of our cash burn rate. Our liquidity position should be adequate to enable us to execute our business plan.”

Transgenomic will announce its second quarter results on Tuesday, August 5, 2003.

 

About Transgenomic

 

Transgenomic provides versatile and innovative research tools and related consumable products to the life sciences industry for the synthesis, separation, analysis and purification of nucleic acids and a wide variety of nucleic acid-based specialty chemicals. Through its nucleic acids business segment, Transgenomic provides specialty chemicals, including advanced nucleic acid building blocks and associated reagents, used in applications such as genetic diagnostics and therapeutics. Manufacturing operations include a cGMP facility for the synthesis of oligonucleotides.

 

Transgenomic’s biosystems segment offers its WAVE® Systems and associated consumables. These systems are specifically designed for use in genetic variation detection and single- and double-strand DNA/RNA analysis and purification. These systems have broad applicability to genetic research and molecular diagnostics. To date there have been approximately one thousand systems installed in over 30 countries around the world.

 

For more information about the innovative genomics research tools developed and marketed by Transgenomic, please visit the company’s Web site at www.transgenomic.com.

 

Forward Looking Statement

 

Certain statements in this press release constitute “forward-looking statements” of Transgenomic within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to future successful launch of product

 

 

extensions and the successful execution of the company’s 2003 business plan. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in Transgenomic’s reports to the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release. All information in this press release is as of the date of the release and Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required by law.

 

# # # #

 

For more information contact:

 

Mitchell L. Murphy

Transgenomic Inc.

402-452-5418

mmurphy@transgenomic.com

 

Robert J. Pogulis, Ph.D.

Transgenomic Inc.

845-782-9617

rpogulis@transgenomic.com

 

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