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Sequenom Reports Fourth Quarter and Full Year 2010 Financial Results
Date:3/8/2011

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Selling, general and administrative expenses of $13.7 million for the fourth quarter of 2010 increased from $12.9 million compared with the fourth quarter of 2009.  The increase was primarily due to an increase in salary expenses and stock-based compensation expense.

Total costs and expenses for the fourth quarter of 2010 were $35.9 million, compared with $28.4 million for the comparable quarter in 2009. The increase in total costs primarily reflects the aforementioned increases in R&D and selling, general and administrative expenses and the non-cash charge in connection with the litigation settlement. For the three months ended December 31, 2010 and 2009, the company recorded $2.8 million and $2.7 million, respectively, of stock-based compensation expense.

Full Year Results

  • Revenue for 2010 totaled $47.5 million, compared with $37.9 million for 2009
  • Cost of product, services and diagnostic revenues for 2010 was $19.0 million, compared with $14.6 million for 2009.
  • Gross margin for 2010 was 60%, compared to 62% for 2009, reflecting improved margins in the company's genetic analysis segment offset by increased costs for the continued expansion of the diagnostics segment at the company's wholly-owned molecular diagnostics laboratory.
  • Total costs and expenses for 2010 were $168.5 million, versus $108.6 million for 2009. For the year ended December 31, 2010 and 2009, the company recorded $11.5 million and $13.3 million, respectively, of stock-based compensation expense.
  • Net loss for 2010 was $120.8 million, or $1.69 per share, compared with $71.0 million, or $1.16 per share for 2009. Net loss included a non-cash charge of $55.4 million for shares of common stock that were issued in conjunction with the litigation settlement.

  • Cash, Cash Equivalents and Marketable SecuritiesAs of December 31, 2010 the company had total cash, cash equivalents and marketable securitie
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    SOURCE Sequenom, Inc.
    Copyright©2010 PR Newswire.
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