Applied DNA Announces Selected Preliminary Unaudited Fiscal Fourth Quarter and Year End Results

December 15, 2017 5:23 PM

STONY BROOK, N.Y.--(BUSINESS WIRE)-- Applied DNA Sciences, Inc. (NASDAQ: APDN; “Applied DNA”) today announced selected preliminary unaudited financial results for the full fiscal year and quarter ended September 30, 2017.

Preliminary (Unaudited) Fiscal 2017 Financial Results:

Preliminary (Unaudited) Fiscal Fourth Quarter Results:

The Company also announced that it anticipates filing its Annual Report on Form 10-K for the fiscal year ended September 30, 2017 with the Securities and Exchange Commission by December 29, 2017.

“Our fiscal 2017 performance reflects growing market awareness and adoption of our DNA technology platform in our key business verticals, resulting in the largest pipeline of pilot projects and highest annual recurring revenue run-rate in Applied DNA’s history,” stated Dr. James Hayward, president and CEO. “In addition to seeing increasing long-term demand in our textile business, we have broadened the applicability of our technology platform in markets adjacent to our core markets and are successfully demonstrating to manufacturers that molecular tag technology can be strategic to their business goals. This is yielding partnerships with market leaders such as Videojet in inkjet printing and marking systems and Rosier in fertilizer that accelerates our time-to-revenue in their respective verticals. We believe that our successes in fiscal 2017 place us firmly on a path to revenue growth in fiscal 2018.”

Preliminary Results

The financial data contained in this press release are unaudited, preliminary, based upon Applied DNA’s good faith estimates and subject to completion of Applied DNA's financial closing procedures. While Applied DNA expects that its final financial results for the fiscal year and quarter ended September 30, 2017, following the completion of its financial closing procedures, will generally be consistent with the amounts provided in this press release, Applied DNA's actual results may differ materially from these estimates as a result of the completion of its financial closing procedures, as well as final adjustments and other developments that may arise between now and the time that its financial results for the fiscal year and quarter ended September 30, 2017 are finalized.

The results provided in this press release are preliminary and subject to completion and audit of Applied DNA’s financial statements in conjunction with the Company’s 2017 Form 10-K filing with the Securities and Exchange Commission anticipated to occur by December 29, 2017.

About Applied DNA Sciences

Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics.

We make life real and safe by providing innovative, molecular-based technology solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. The proprietary DNA-based “CertainT®” platform can be used to identify, tag, test, and track products, to help assure authenticity, origin, traceability, sustainability and quality of products.

SigNature® DNA describes the core technology ingredient that is at the heart of a family of uncopiable, security and authentication solutions such as SigNature® T and fiberTyping®, targeted toward textiles and apparel, BackTrac™ and DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track-and-trace. All provide a forensic chain of evidence, and can be used to prosecute perpetrators. Applied DNA Sciences is also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.

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The Company’s common stock is listed on NASDAQ under the symbol APDN, and its warrants are listed under the symbol APDNW.

Forward-Looking Statements

The statements made by Applied DNA in this press release may be “forward-looking” in nature within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements describe Applied DNA’s 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 financial resources, limited market acceptance, market competition and various other factors detailed from time to time in Applied DNA’s SEC reports and filings, including our Annual Report on Form 10-K filed on December 6, 2016, and our subsequent quarterly reports on Form 10-Q filed on February 9, 2017, May 11, 2017, and August 10, 2017 which are available at Applied DNA 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, unless otherwise required by law.


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Source: Applied DNA Sciences, Inc.


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