Applied DNA Sciences Inc (APDN)

[apdn1mill]

Earnings transcript on Seeking Alpha

http://seekingalpha.com/pr/11997855-applied-dna-sciences-reports-fiscal-year-end-2014-results?app=n

Karol Kain Gray, Chief Financial Officer stated, "This has been an exciting time for the company. We successfully completed a reverse stock split and uplisting to NASDAQ, as well as reported record annual revenues."

Financial Highlights for the Full Year: For the fiscal year ended September 30, 2014, the Company generated record revenue of approximately $2.7 million, a 33.6% increase from fiscal 2013 revenues.

Increased revenues were primarily the result of a developmental term sheet for the DNA-marking of industrial plastics, of which $219,250 of the $350,000 term sheet has been recognized, an increase in sales to suppliers of the Defense Logistics Agency of $162,000, and an increase in fiberTyping sales.
Operating expenses were $15 million, a $2.8 million or 22.8% increase over fiscal 2013. The increase is primarily attributable to salaries and research and development expenditures related to a number of customer-funded development contracts.
Net loss for the fiscal year ended September 30, 2014 decreased by approximately $4.6 million or 26.1% to $13,066,661 from $17,686,472 in the same period in 2013.