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Sequenom, Inc. Reports Financial Results For The Fourth Quarter And Full Year Of 2012
Date:3/7/2013

quarter of 2011, resulting primarily from the expansion of capacity and the progress toward validation of the MaterniT21 PLUS test at the North Carolina facility.  

General and administrative expenses for the fourth quarter of 2012 were $13.7 million, as compared to $6.8 million for the fourth quarter of 2011, due to increased litigation expenses and increased infrastructure to support the Company's operations.  Total stock-based compensation expense was $4.1 million for the fourth quarter of 2012; an increase from $2.8 million in stock-based compensation recorded for the fourth quarter of 2011 as a result of a change in estimate for performance based stock awards.

Net loss for the fourth quarter 2012 was $32.8 million or $0.29 per share, as compared to net loss of $22.2 million, or $0.22 per share for the same period in 2011.  Net cash used in operating activities was $14.5 million for the fourth quarter 2012, lower than the previous quarters in 2012.

"We made significant progress in our performance during 2012, with strong revenue growth during the fourth quarter as our diagnostic services revenues increased and our overall cash burn declined," said Paul V. Maier, Sequenom's CFO. "We look forward to continued growth in 2013 through greater testing volumes and revenues, as well as test capacity expansion.  To meet the growing demand for its testing services, we expect Sequenom CMM's third laboratory location in North Carolina will become operational later this year."

Full year 2012 Performance
The Company reported revenues of $89.7 million for 2012, an increase of 60% compared to revenues of $55.9 million for 2011. Diagnostic services revenues were 52% of total revenues for 2012, surpassing revenues from the genetic analysis operating segment for the first time in the Company's history.  The Company will continue to account for revenues from its diagnostic testing services on a cash basis until further experi
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SOURCE Sequenom, Inc.
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