Applied DNA Sciences Reports Year End Results
STONY BROOK, N.Y., January 17, 2007 /PRNewswire-FirstCall/
— Applied DNA Sciences, Inc. (OTC Bulletin Board: APDN) (“APDN”), a DNA
security solutions company, today announced financial results for its last
fiscal year.
For the year
ended September 30, 2006, revenue totaled $18,600 compared to $0 for the year
ended September 30, 2005. APDN reported
a net loss of $2,410,237, or $0.02 per share for the year, compared to a net
loss of $67,109,519 or $1.05 per share for the prior year.
During the last
fiscal year and the beginning of fiscal 2007, APDN completed some important
structural changes, which include:
·
the appointment
of a new Chief Executive Officer and restructuring of its Board of Directors;
·
the relocation
of corporate headquarters to the Long Island High Technology Incubator in Stony
Brook, New York;
·
the
establishment of laboratories for the manufacture of APDN’s
proprietary technology;
·
the launch of
the SigNature Program;
·
the announcement
of the first SigNature Program contract;
·
the hiring of a
new sales director; and
·
the launch of a redesigned website.
In October 2005, Dr. James A. Hayward was appointed APDN’s
Chief Executive Officer. In March 2006,
three new directors were appointed to our Board of Directors and two of our
former directors resigned. APDN believes
that the new management team has brought a wealth of experience which will
expedite the commercialization of APDN’s SigNature Program.
In 2005, APDN relocated its headquarters from Los Angeles, CA to the Long
Island High Technology Incubator at Stony Brook University. The move has brought APDN to a location
offering it access to scientists and university faculty in the field of DNA
research at two major research institutions.
As part of our new corporate strategy, which focuses on fully
transforming APDN from a developmental stage into an operating business, APDN
established laboratories to manufacture SigNature DNA
Markers, covert DNA Ink and SigNature PCR kits at its
facility in Stony Brook. APDN believes
that the ability to manufacture its own products is important to ensure a
secure chain of custody during the manufacture of SigNature
DNA Program products.
To expedite the sale of SigNature Program
products and services, APDN hired a new sales director and has contracted with
additional consultants and agents to assist in the penetration of its six
target vertical markets: art and collectibles, fine wine, consumer products,
digital recording media, pharmaceuticals and homeland security driven
products. APDN entered into its first SigNature Program contract and recognized its first
revenues from the SigNature Program in the last
fiscal year.APDN hopes to achieve further penetration
into its target markets in the current fiscal year.
APDN’s redesigned website was launched in November
2006 and provides up-to-date information about us, including the latest news,
press releases and upcoming events. This
website can be accessed at www.adnas.com.
Dr. James A. Hayward, APDN’s Chief Executive Officer, stated: “This has been an
exciting year of changes and restructuring.
As I believe our financial results for last year show, our new
management team has adopted a fiscally conservative yet aggressive approach to
generating revenues both near and long term and is managing our cash flow very
responsibly. We believe we are on target
to move from a development stage company to a revenue
driven company in the coming year.”
About
Applied DNA Sciences, Inc.
Applied DNA Sciences, Inc. provides botanical DNA encryption, embedment and
authentication solutions that can help protect companies, governments and
consumers from counterfeiting, fraud, piracy, product diversion, identity theft
and unauthorized intrusion into physical locations and databases. APDN’s common stock is listed on the Over-The-Counter
Bulletin Board under the symbol "APDN". Contact: Debbie Bailey,
Applied DNA Sciences, Inc., 25 Health Sciences Drive, Stony Brook, New York
11790; Tel: 631-444-8090; Fax: 631-444-8848 http://www.ADNAS.com.
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 our 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 market acceptance, market competition and
various other factors detailed from time to time in our SEC reports and
filings, including our Registration Statement on Form SB-2, as amended, and
Annual Report on Form 10-KSB, filed on January 16, 2007. 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.
SOURCE Applied DNA Sciences, Inc.
-0- 12/xx/2006
/CONTACT: Debbie Bailey, 631-444-8090, fax: 631-444-8848/
/First Call Analyst: /
/FCMN Contact: info@adnas.com /
/Web site: http://www.ADNAS.com /