Interleukin Genetics Inc. (ILGN) Reports Third Quarter 2012 Financial Results
11/15/2012 9:43:46 AM
WALTHAM, Mass.--(BUSINESS WIRE)--Interleukin Genetics, Inc. (OTCQB: ILIU) today announced financial and operational results for the third quarter ended September 30, 2012. Total revenue for the three months ended September 30, 2012 was $420,000, compared to $765,000 for the same period in the prior year. The decrease was primarily attributable to a decrease in genetic tests returned and processed and lower sales of our Inherent Health® brand of genetic tests through our Merchant Network and Channel Partner Agreement with Amway Global. Cash received from genetic test sales is reflected as deferred revenue until the test report is issued. Deferred revenue increased $146,000 to $971,000 at September 30, 2012 as compared to December 31, 2011.