Applied DNA Sciences Reports Fiscal Second Quarter 2012 Results; $APDN

Applied DNA Sciences Reports Fiscal Second Quarter 2012 Results; $APDN

Applied DNA Sciences Inc. (OTCBB: APDN; Twitter: $APDN) sells patented DNA security solutions to protect products, brands and intellectual property from counterfeiting and diversion. SigNature DNA is a botanical mark used to authenticate products in a unique manner that essentially cannot be copied, and provide a forensic chain of evidence that can be used to prosecute perpetrators.

The Company has announced its financial results for the second fiscal quarter ending March 31, 2012, generating revenues of $518,402, thus marking the company's highest recorded quarterly revenues, and the second sequential quarter to set this record.

Second Quarter Highlights include:
  • Revenues increased slightly (0.3%), quarter over quarter, to $518,402, a new high for quarterly revenues previously established last quarter.
  • Revenues increased 369% as compared to the same quarter in the prior fiscal year.
  • Net loss dropped 36% as compared to the first quarter ending December 31, 2011.
  • Net loss dropped 40%, as compared to the same quarter in the prior fiscal year.
  • The six-month period of FY12 to-date has already exceeded (by 7%) total revenues of FY11.
  • Revenues for the six-month period have increased by 126% year over year, topping $1 million for the first time.
  • Net loss for the first six-month period increased slightly (0.3%) year over year.
Dr. James A. Hayward, President and CEO of Applied DNA Sciences, stated,

"The Company began FY '12 with an exciting first quarter. Our developments in the cash-in-transit, semiconductor authentication and textile and apparel authentication markets have sustained that momentum and contributed to the increase in our revenues. We intend to pursue both domestic and international sales opportunities in each of these vertical markets. We continue to increase our customer base. In addition, the initial responses to our new product lines, smartDNA® and digitalDNA™, have been encouraging."

Read the full release at Yahoo Finance.