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| [May 16, 2008] |
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Applied DNA Sciences Continues its Positive Performance in Second Quarter Announcing Third Consecutive Quarter of Revenues
STONY BROOK, N.Y. --(Business Wire)-- Applied DNA Sciences, Inc. (OTC Bulletin Board: APDN) reported its revenues for the second fiscal quarter of 2008 ending March 30, 2008. Revenues reported for the second quarter were $207,737, representing the third consecutive quarter of continued revenue growth for the company.
"In the second quarter, our revenues were at the highest level since we began operations. We still have more work to do, but I am very pleased with the continued progress we are making toward building a growing and profitable business," commented Dr. James A. Hayward, President and CEO of APDN. "The progress we have made enables us to now bring even greater focus on further developing our technology and expanding our customer base. Our management team is focused on creating shareholder value, building alliances, creating value from our technologies and maximizing the dynamic opportunities of our technologies. "
Second Quarter Highlights include:
-- revenues of $207,737, a 69% increase from the previous quarter;
-- reorder for SigNature DNA markers for the cash-in-transit industry within one month of shipping first order;
-- additional order of DermalRx ingredient to multinational customer;
-- SigNature DNA marked labels shipped to Rhodia, an international specialty chemical company;
-- Completed development stage of agreement with IIMAK for thermal transfer ribbons combined with SigNature DNA and began pilot manufacturing;
-- Signed memorandum of understanding with Smiths for Bio-seeq PLUS for portable forensic authentication of SigNature DNA.
"We are pleased with our results for this quarter," stated Kurt Jensen, APDN Chief Financial Officer. "We continue to see improvement in our business, including repeat orders and new customers. We are confident about the current strength of the company and look forward to our future prospects."
About APDN
Applied DNA Sciences markets and sells DNA encrypted and embedded solutions that are forensically authenticated by machine readable devices. These solutions can be easily integrated with a range of inks, threads, varnishes, adhesives as well as thermal ribbon, inkjet and laser ink. Applied DNA Sciences' products can help protect the brands and intellectual property that can easily be eroded by counterfeiting, product diversion and fraud. APDN's common stock is listed on the Over-The-Counter Bulletin Board under the symbol "APDN".
The statements made by APDN may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-KSB, filed on January 15, 2008 and our subsequent quarterly reports on Form 10-QSB. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
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