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news.WaferGen Biosystems, Inc. (WaferGen), an in vitro diagnostics company, has reported revenues of $0.62 million for the full year of 2008, compared with the revenues of $0.22 million in the previous year-end. It has reported net loss of $8.1 million, for the full year of 2008, compared with the net loss of $5.9 million in the previous year-end.
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For the year 2008, cost of sales increased by $161,917. The increase is related to the increased sales during the year 2008.
Sales and Marketing Expenses
For the year 2008, sales and marketing expenses increased $330,973 from 2007.
Research and Development Expenses
For the year 2008, research and development expenses increased $2,198,989 from 2007.
General and Administrative Expenses
For the year 2008, general and administrative expenses decreased $199,758 from 2007.
Interest Income
For the year 2008, interest income decreased $80,729 compared to 2007.
Miscellaneous Expense
For the year 2008, miscellaneous expense increased by $78,504 as compared to none for the year 2007.
Liquidity and Capital Resources
As of December 31, 2008, WaferGen had cash of $2,597,413. WaferGen has historically met its liquidity requirements through borrowings and through the sale of equity securities. As of December 31, 2008, WaferGen had working capital of $1,595,741.