Applied DNA Sciences Inc (APDN)

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http://www.securingindustry.com/electronics-and-industrial/apdn-says-marking-contracts-for-military-electronics-reach-28/s105/a1981/


APDN says marking contracts for military electronics reach 28

Phil Taylor
28-Feb-2014


Blue glove with silicon chipApplied DNA Sciences started the year with 28 contracts in place for DNA-marking of components used by the US Defense Logistics Agency, up from three a year earlier.

APDN specialises in applying unique botanical DNA markers to products, allowing them to be tested for authenticity and preventing counterfeits entering the supply chain.

The company has benefitted from a DLA requirement that requires defense contractors to provide Federal Supply Class (FSC) 5962 electronic microcircuits that are marked with DNA, although last year the DLA said it was considering expanding the requirement to other product categories.

The contracts - which include seven original component manufacturers and one prime contractor - helped APDN post an 88 per cent increase in fiscal first-quarter revenues to $600,000. The company also benefited from the launch of its Signature T markers designed for use in the textiles industry, with orders already in place from Supima to secure 50m kilograms of raw cotton as well a contract with H. Dawson Wool for the protection of wool fibres.

"Requests for our SigNature DNA technology in textiles are coming at us rapidly now, and from a global customer base," commented APDN's chief executive Dr. James Hayward, who also indicated that the company has a strong interest in breaking into the pharma industry, in addition to its current focus on military electronics, security, cash-in-transit and textiles.

APDN also posted a smaller loss in the first quarter, at $6.3m versus $8.7m a year ago.