Interleukin Genetics second quarter total revenue increases to $0.8 million

Interleukin Genetics, Inc. (OTCQB: ILIU) today announced financial and operational results for the second quarter ended June 30, 2011.

Total revenue for the three months ended June 30, 2011 was $0.8 million compared to $0.6 million for the same period in the prior year. The increase was attributable to greater genetic test revenue.

Research and development expenses were $0.4 million for the three months ended June 30, 2011, compared to $0.3 million for the same period in the prior year. The increase is primarily attributable to increased consulting fees and is offset by decreased compensation and facility operating costs.

Selling, general, and administrative expenses were $1.3 million for the three months ended June 30, 2011, compared to $1.6 million for the same period in the prior year. The decrease was primarily attributable to lower compensation, professional fees, and promotion expenses partially offset by increased patent-related legal fees and sales commissions paid to Amway.

The Company reported a net loss of $1.2 million, or $(0.03) per basic and diluted common share, for the second quarter of 2011, compared to a loss of $1.4 million, or $(0.04) per basic and diluted share for the same period in the prior year. Included in the second quarter net loss in 2011 and 2010 is income from discontinued operations of $0.2 million and $0.5 million respectively. On June 30, 2011, the Company had cash and cash equivalents of $1.7 million and had $3.3 million available under its credit facility.

"We are pleased to show continued revenue growth primarily driven by partnerships for our Weight Management Genetic Test and Wellness Select combination product.  The introduction of our new web-based tools has significantly enhanced the Weight Management Genetic Test and we look to continue to generate data to be in a position to publish our results," said Lewis H. Bender, CEO, Interleukin Genetics, Inc. "In addition, the enrollment in our clinical study with Renaissance Health and the University of Michigan is proceeding nicely with over 3,000 patients enrolled thus far.  Finally, we are excited about our new research relationship with Metagenics announced this quarter to identify biomarkers for their weight management product Meta-060."