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Interleukin Genetics Reports Fourth Quarter and Year End 2010 Financial Results

(5,764,628)Total liabilities and shareholders' deficit$
3,069,463Statement of Operations Data :Three Months Ended December 31, Twelve Months Ended December 31, 2010200920102009Revenue:Genetic testing service revenue$
53,784$  1,940,190$
505,914Contract research revenue-24,912-545,847Other31,1786,39556,98326,669Total revenue510,767185,0911,997,1731,078,430Cost of Revenue364,808291,4971,618,8411,203,647Gross profit (loss)145,959(106,406)378,332(125,217)Operating costs and expenses:Research and development497,452584,1721,925,9753,213,115Research and development reimbursement grant(473,394)-(473,394)-Selling, general and administrative1,173,0971,102,0515,013,9035,575,911Amortization of intangibles28,86328,863115,453115,453Total operating expenses1,226,0181,715,0866,581,9378,904,479Loss from operations(1,080,059)(1,821,492)(6,203,605)(9,029,696)Total other income and (expense), net(87,844)(50,119)(265,215)(148,577)Loss from continuing operationsbefore provision for income taxes(1,167,903)(1,871,611)(6,468,820)(9,178,273)Provision for income taxes----Loss from continuing operations(1,167,903)(1,871,611)(6,468,820)(9,178,273)Income (loss) from discontinued Operations,net of  tax-31,084482,530(1,374,130)Net loss$
(1,840,527)$ (5,986,290)$ (10,552,403)Basic and diluted net income (loss) per common share from:Continuing operations$
(0.06)($0.18)($0.29)Discontinued operations0.000.000.01(0.04)Net loss$
(0.06)($0.17)($0.33)Weighted average common shares outstanding,basic and diluted36,583,33032,102,40735,706,27132,007,826
SOURCE Interleukin Genetics, Inc.
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