Applied DNA Sciences (APDN) Granted FDA Emergency Use Authorization for COVID-19 Diagnostic Assay Kit

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Go back to Applied DNA Sciences (APDN) Granted FDA Emergency Use Authorization for COVID-19 Diagnostic Assay Kit

Applied DNA Sciences (APDN) Misses Q2 EPS by 2c

May 14, 2020 4:33 PM EDT

Applied DNA Sciences (NASDAQ: APDN) reported Q2 EPS of ($0.79), $0.02 worse than the analyst estimate of ($0.77). Revenue for the quarter came in at $552.47 thousand versus the consensus estimate of $950 thousand.

Fiscal Second Quarter 2020 Financial Results:

Revenues decreased 29% for the second quarter of fiscal 2020 to $552 thousand, compared with $778 thousand reported in the same period of the prior fiscal year and decreased 13% from $634 for the first quarter of fiscal 2020. This decrease in revenues year over year is due to a decrease of $305 thousand in service revenues, offset by an increase of $79 thousand in product... More