NEW YORK (GenomeWeb) – WaferGen Bio-systems announced today that it expects to report a 62 percent rise in fourth quarter revenues while meeting its full-year revenue guidance.
For the three-month period ended Dec. 31, WaferGen's revenues are expected to be $3.9 million compared with $2.4 million in the same period the year before. The company said its revenues for 2016 are expected to be approximately $10.7 million, in line with previous guidance of $10 million to $12 million.
WaferGen said that it ended 2016 with about $4.5 million in cash, including a $2.5 million deposit received from Takara Bio USA Holdings pursuant to the companies' merger agreement announced last year.
Under the terms of the deal, WaferGen's purchase price would be based on a multiple between one and three-and-a-half times of its full-year 2016 revenues, with the multiple capped at three-and-a-half times if those revenues exceed $9 million. Based on the company's revenue projections, the merger is valued at roughly $37.5 million including the deposit. It is expected to close by next month.