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WaferGen Reports Fourth Quarter and Full Year 2010 Financial Results
Date:3/14/2011

er 31, 2009.  For the 12 months ended December 31, 2010, research and development expenses increased to $6.7 million, as compared to $5.1 million for 2009.  The increase in research and development expenses for the 12 months ended December 31, 2010, occurred primarily from expenses associated with the development of SmartChip products and services.

For the three months ended December 31, 2010, sales and marketing expenses increased to $694,000, as compared to $149,000 for the three months ended December 31, 2009.  For the 12 months ended December 31, 2010, sales and marketing expenses increased to $2.1 million, as compared to $601,000 for 2009.  The increase in sales and marketing expenses in both the fourth quarter and 12 months ended December 31, 2010, resulted primarily from additional staff and promotional activities in conjunction with the commercialization and sales of SmartChip Systems and services.

For the three months ended December 31, 2010, general and administrative expenses increased to $1.6 million, as compared to $1.2 million for the three months ended December 31, 2009.  For the 12 months ended December 31, 2010, general and administrative expenses increased to $5.1 million as compared to $4.4 million for 2009.  General and administrative expenses increased due primarily to additional staff and consulting expenses.

AssetsWaferGen ended 2010 with $2.2 million in unrestricted cash and cash equivalents, and $4.3 million of total current assets.  These figures do not include $5 million in proceeds from the financing with a strategic investor, Malaysian Technology Development Corporation Sdn. Bhd. that was announced in December 2010 and funded in 2011.  The company ended 2009 with approximately $6.4 million in total current assets, including $6.0 million in cash and cash equivalents.

About WaferGen and the SmartChip Real-Time PCR SystemWaferGen Biosystems, Inc. is a leader in the de
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SOURCE WaferGen Biosystems, Inc.
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