WaferGen Bio-Systems (WGBS) Announces Strong Prelim. Q3 Revenue; Boosts FY15 Revenue Outlook

WaferGen Bio-Systems (NASDAQ: WGBS) announced preliminary, unaudited revenue for the third quarter of 2015. The Company expects total revenue for the third quarter of 2015 to be in the range of $1.9 million to $2.1 million, which would represent an increase of 52-68% when compared to the $1.3 million reported for the third quarter of 2014. This also represents a sequential increase of 18-30% compared to the $1.6 million generated in the second quarter of 2015. Revenue for the third quarter is expected to be the highest in WaferGen's history, and represents the second consecutive quarter of revenue growth. The primary driver of revenue growth was sales of the Company's SmartChipTM products and services, which comprised approximately 67% of total revenue, compared to 53% in the second quarter of 2015 and 58% in the third quarter of 2014.

*** The Street was looking for Q3 revenue of $2 million.

WaferGen is also updating the Company's full-year 2015 revenue guidance from between $7.5 million and $7.8 million, excluding sales of the recently launched ICELL8™ Single-Cell System, to between $7.8 million and $8.2 million, including ICELL8-related revenue.

*** The Street sees FY15 revenue of $7.4 million.

"The third quarter will represent both our highest ever quarterly revenue, and the Company's second consecutive quarter of revenue growth," said Rollie Carlson, President and CEO of WaferGen. "With our base business now performing well, and the recent commercial launch of our ICELL8 Single-Cell System, we are well-positioned for meaningful growth in our business."

The quarterly financial results included in this press release were calculated prior to the completion of a review by WaferGen Bio-systems' external auditors and are therefore subject to adjustment. Actual revenues for the third quarter of 2015 may differ materially from our expectations.

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