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Interleukin Genetics Reports Fourth Quarter And Year End 2012 Financial Results

Conference Call and Webcast Information

Interleukin Genetics, Inc. will host a live conference call and webcast today at 4:30 p.m. EDT. To access the live call, dial 877-324-1976 (domestic) or 631-291-4550 (international). The live webcast will be available at the Investors section of the Company’s website, www.ilgenetics.com.

The webcast will be archived following the call at www.ilgenetics.com.

About Interleukin GeneticsInterleukin Genetics, Inc. (OTCQB: ILIU) develops and markets a line of genetic tests under the Inherent Health ® and PST ® brands. The products empower individuals to prevent certain chronic conditions and manage their existing health and wellness through genetic-based insights with actionable guidance. Interleukin Genetics leverages its research, intellectual property and genetic panel development expertise in metabolism and inflammation to facilitate the emerging personalized healthcare market. The Company markets its tests through partnerships with health and wellness companies, healthcare professionals and other distribution channels. Interleukin Genetics’ flagship products include its proprietary PST ® genetic risk panel for periodontal disease and tooth loss susceptibility sold through dentists, and the Inherent Health Weight Management Genetic Test that identifies the most effective diet and exercise program for an individual based on genetics. Interleukin Genetics is headquartered in Waltham, Mass. and operates an on-site, state-of-the-art DNA testing laboratory certified under the Clinical Laboratories Improvements Act (CLIA). For more information please visit www.ilgenetics.com.

Certain statements contained herein are “forward-looking” statements, including statements related to anticipated growth in commercialization of the Company’s proprietary molecular diagnostic technology, that Company’s advances in 2012 will help to make it one of the leading commercial providers of molecular diagnostics, and the sufficiency of the Company’s current and anticipated cash resources. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2012 and other filings with the Securities and Exchange Commission, including the risk that if the Company fails to obtain additional capital by the end of April 2013,then it may have to end its operations and seek protection under bankruptcy laws. The Company disclaims any obligation or intention to update these forward-looking statements.

INTERLEUKIN GENETICS, INC.
FINANCIAL HIGHLIGHTS
                       
Balance Sheet Data December 31, December 31,

2012

2011

 
 
Cash and cash equivalents $ 1,225,426 $ 1,728,222
Total current assets $ 2,401,568 $ 2,111,921
Total assets $ 2,965,646 $ 2,953,517
 
Total current liabilities $ 2,273,191 $ 14,376,748
Total liabilities $ 16,589,446 $ 14,376,748
 
Total shareholders' deficit $ (13,623,800 ) $ (11,423,231 )
 
Total liabilities and shareholders' deficit $ 2,965,646 $ 2,953,517
 
 
Statement of Operations Data Three Months Ended December 31, Twelve Months Ended December 31,

2012

2011

2012

2011

Revenue:
Genetic testing service revenue $ 317,004 $ 527,598 $ 2,154,785 $ 2,757,355
Other   22,053     47,741     81,602     99,750  
 
Total revenue 339,057 575,339 2,236,387 2,857,105
Cost of revenue   287,774     360,408     1,328,538     1,527,201  
 
Gross profit 51,283 214,931 907,849 1,329,904
 
Operating costs and expenses:
Research and development 302,427 387,106 1,311,877 1,376,394
Selling, general and administrative 793,281 1,123,157 4,150,607 4,665,360
Amortization of intangibles   28,864     28,864     115,453     115,453  
 
Total operating expenses   1,124,572     1,539,127     5,577,937     6,157,207  
 
Loss from operations (1,073,289 ) (1,324,196 ) (4,670,088 ) (4,827,303 )
-
Total other income and (expense), net   (116,030 )   (98,466 )   (449,996 )   (356,245 )

Loss from continuing operations before income taxes

(1,189,319 ) (1,422,662 ) (5,120,084 ) (5,183,548 )
Income taxes   -     -     -     -  
Loss from continuing operations $ (1,189,319 ) $ (1,422,662 ) $ (5,120,084 ) $ (5,183,548 )

Income from discontinued operations, net of income taxes

  -     -     -     158,366  
Net loss $ (1,189,319 ) $ (1,422,662 ) $ (5,120,084 ) $ (5,025,182 )
 

Basic and diluted net (loss) income per common share from:

Continuing operations $ (0.03 ) $ (0.04 ) $ (0.14 ) $ (0.14 )
Discontinued operations   -     -     -     0.00  
Net loss $ (0.03 ) $ (0.04 ) $ (0.14 ) $ (0.14 )

Weighted average common shares outstanding, basic and diluted

  36,756,864     36,701,099     36,754,679     36,661,290  




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