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WaferGen Reports Second Quarter 2011 Financial Results
Date:9/12/2011

evaluations of outstanding warrants and result primarily from a fluctuation in the company's stock price in the period – a decrease in company stock price results in gains and vice versa.

Operating Expenses Operating expenses totaled $5.0 million for the three months ended June 30, 2011 compared to $3.1 million in the same period of 2010.  Operating expenses totaled $9.2 million for the first six months of 2011, compared to $6.0 million for the first six months of 2010.

For the three months ended June 30, 2011, research and development expenses were $2.0 million as compared to $1.5 million for the three months ended June 30, 2010.  For the six months ended June 30, 2011, research and development expenses were $4.1 million compared to $3.0 million in the first six months of 2010.  The increase in research and development expenses occurred primarily from expenses associated with the development of SmartChip products and services.

Sales and marketing expenses for the three months ended June 30, 2011 increased to $870,000, as compared to $475,000 for the three months ended June 30, 2010. For the six months ended June 30, 2011, sales and marketing expenses increased to $1.6 million compared to $725,000 in the first six months of 2010. The increase in sales and marketing expenses resulted primarily from additional staff and promotional activities associated with the commercialization and sales of SmartChip Systems and services.

For the three months ended June 30, 2011, general and administrative expenses increased to $2.1 million, as compared to $1.2 million for the three months ended June 30, 2010. For the six months ended June 3, 2011, general and administrative expenses increased to $3.5 million compared to $2.2 million for the same period in 2010.  General and administrative expenses increased due to additional personnel and consulting expenses (primarily non-recurring) and costs related to fund raising activiti
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SOURCE WaferGen Biosystems, Inc.
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