Applied DNA Sciences, marketer of DNA security solutions to protect products, brands, and intellectual property from counterfeit and diversion, today announced its financial results for the fiscal first quarter ended December 31, 2011.
The company reported revenues of $516,904 for the quarter ended December 31, 2011, compared to revenues of $317,817 reported for the comparable quarter ended December 31, 2010.
The company attributes the 63 percent increase in revenues to sales of its SigNature DNA and BioMaterial GenoTyping products. It also notes a 40 percent increase in its customer base for 2011.
First-quarter revenues for the fiscal year represent an 84 percent increase compared to revenues of $280, 678 reported for the fourth quarter ended September 30, 2011.
Applied DNA reported an increase in research and development expenses to $78,473 for the fiscal first quarter, compared to $20,706 for the comparable three months ended December 31, 2010.
Total operating expenses increased to $2.3 million for the three months ended December 31, 2011, compared to $1.4 million reported for the three months ended December 31, 2010.
Net loss for the three months ended December 31, 2011, increased to $2.4 million, compared to a net loss of $1.3 million comparable three months ended December 31, 2010.
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