Deltagen (DGEN) Reports 2012 Second Quarter Financial Results
9/19/2012 9:16:36 AM
SAN MATEO, Calif.--(BUSINESS WIRE)--Deltagen, Inc. (Pink Sheets: DGEN), a leading provider of drug discovery tools and services to the biopharmaceutical industry, today reported unaudited consolidated financial results for the three months ended June 30, 2012. Revenues: The Company’s consolidated revenues for the three months ended June 30, 2012 totaled $0.220 million. The revenues in the second quarter of 2012 were attributable primarily to license fees associated with the provision of knockout mice and related phenotypic data pursuant to orders placed by customers under the Company’s DeltaOneTM program. The consolidated revenues for the period included $0.018 million for Benten BioServices, Inc. ("Benten BioServices") and $0.008 million for Xenopharm, Inc. (“Xenopharm”), both of which were wholly-owned subsidiaries of the Company as of June 30, 2012. The revenues for the second quarter of 2012 reflect delays in international shipments of knockout mice that had been scheduled for delivery and invoicing in the second quarter, which delays had been caused by unusually high temperatures that risked the health and viability of the knockout mice. The revenues associated with such delayed shipments, which total approximately $0.100 million, are expected to be recognized in the third quarter of 2012.