NEW YORK (GenomeWeb News) – WaferGen Biosystems' revenues for the first quarter of 2012 fell nearly five-fold year over year, the company said in its Form 10-Q filed on Friday with the US Securities and Exchange Commission.

During the three months ended March 31, the Fremont, Calif.-based firm recorded $73,233 in revenues, down from $351,032 a year ago. The sharp dropoff was due to "the absence of sales" of any SmartChip Real-Time PCR Systems in the recently ended quarter, compared to one sale a year ago, WaferGen said.

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