I've spent the last couple of weeks working on and getting familiar with my Uniden depth finder as mine was having the same problem. If you have a "through-hull" transducer I'm less help. If you have an "inside the hull" transducer then try the following:
First, check to make sure that the transducer is firmly secured to the hull of your boat. This was my problem - the transducer had come loose. My dealer recommended 3M 5200 Marine Adhesive (Home Depot, $6) rather than epoxy. When you glue it back on, make sure that any prior adhesive, dirt, etc. is gone. Clean the area with something that will remove grease, etc., I used acetone and make sure that the bonding area is smooth.
Second, my transducer was not the solid "hockey puck" style but instead an Airmar P79 transducer something like this:
http://www.airmartechnology.com/airmar2005/ex20/RMProducts/ElectCat.asp?ProdID=52&Man=All&PageNo=99 You have to fill the plastic reservior with "liquid" which either mineral oil or automotive radiator coolant (I chose coolant). Specific instructions for my installation is here:
http://www.airmartechnology.com/uploads/installguide/17-217-01.pdf Other models, check here, but even if you have a different transducer manufacturer the installation descriptions will be helpful:
http://www.airmartechnology.com/airmar2005/ex20/RMProducts/RMMain.asp?LinkID=2&NewID= Hope that helps.
Some helpful info:
http://www.tomneale.com/tips13.html