WALTHAM, Mass.--(BUSINESS WIRE)--

Interleukin Genetics,Inc. (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.

Research and development expenses were $246,000 for the three months ended September 30, 2012, compared to $325,000 for the same period in the prior year. The decrease was primarily attributable to lower consulting costs partially offset by increased compensation costs.

Selling, general, and administrative expenses were $1.0 million for the three months ended September 30, 2012, compared to $1.1 million for the same period in the prior year. The decrease was primarily attributable to lower patent related legal fees, insurance, consulting and sales commissions paid to Amway partially offset by increased professional fees and employee separation costs.

The Company reported a net loss of $1.3 million, or $(.03) per basic and diluted common share, for the third quarter of 2012 compared to $1.1 million, or $(.03) per basic and diluted common share, for the same period in 2011. On September 30, 2012, the Company had cash and cash equivalents of $2.5 million.

The Company expects that its current and anticipated financial resources are adequate to maintain current and planned operations at least through November 30, 2012, the due date of its credit facility with Pyxis Innovations, Inc., and through March 31, 2013 if the due date of the credit facility is extended. Management is in discussions with Pyxis to extend this due date. The Companys independent registered public accounting firm has included an explanatory paragraph in their opinion in connection with the 2011 audit, relating to the Company's ability to continue as a going concern.

We are encouraged by the positive top line results received from the University of Michigan study that employed our PST test. The results of the study should provide the evidence to support broader use of this test to both improve preventive dental care and favorably influence healthcare costs. We are now focused on ramping up the broad commercialization of our PST genetic test for improved management of dental patients, said Kenneth S. Kornman, Chief Executive Officer of Interleukin Genetics.

Conference Call and Webcast Information

Interleukin Genetics will host a live conference call and webcast today at 4:30 p.m. EST to review the Companys new business developments and third quarter financial results. To access the live call, dial 877-324-1976 (domestic) or 631-291-4550 (international). The live webcast and replay access will be available on the Investors section of the Companys Website at: http://www.ilgenetics.com.

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Interleukin Genetics Reports Third Quarter 2012 Financial Results

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