STONY BROOK, N.Y., Jan. 17 /PRNewswire-FirstCall/ -- Applied DNA
Sciences, Inc. (OTC Bulletin Board: APDN) ("APDN"), a DNA security
solutions company, today announced financial results for its last fiscal
For the year ended September 30, 2006, revenue totaled $18,600 compared
to $0 for the year ended September 30, 2005. APDN reported a net loss of
$2,410,237, or $0.02 per share for the year, compared to a net loss of
$67,109,519 or $1.05 per share for the prior year.
During the last fiscal year and the beginning of fiscal 2007, APDN
completed some important structural changes, which include:
* the appointment of a new Chief Executive Officer and restructuring of
its Board of Directors;
* the relocation of corporate headquarters to the Long Island High
Technology Incubator in Stony Brook, New York;
* the establishment of laboratories for the manufacture of APDN's
* the launch of the SigNature Program;
* the announcement of the first SigNature Program contract;
* the hiring of a new sales director; and
* the launch of a redesigned website.
In October 2005, Dr. James A. Hayward was appointed APDN's Chief
Executive Officer. In March 2006, three new directors were appointed to our
Board of Directors and two of our former directors resigned. APDN believes
that the new management team has brought a wealth of experience which will
expedite the commercialization of APDN's SigNature Program.
In 2006, APDN relocated its headquarters from Los Angeles, CA to the
Long Island High Technology Incubator at Stony Brook University. The move
has brought APDN to a location offering it access to scientists and
university faculty in the field of DNA research at two major research
As part of our new corporate strategy, which focuses on fully
transforming APDN from a developmental stage into an operating business,
APDN established laboratories to manufacture SigNature DNA Markers, covert
DNA Ink and SigNature PCR kits at its facility in Stony Brook. APDN
believes that the ability to manufacture its own products is important to
ensure a secure chain of custody during the manufacture of SigNature DNA
To expedite the sale of SigNature Program products and services, APDN
hired a new sales director and has contracted with additional consultants
and agents to assist in the penetration of its six target vertical markets:
art and collectibles, fine wine, consumer products, digital recording
media, pharmaceuticals and homeland security driven products. APDN entered
into its first SigNature Program contract and recognized its first revenues
from the SigNature Program in the last fiscal year. APDN hopes to achieve
further penetration into its target markets in the current fiscal year.
APDN's redesigned website was launched in November 2006 and provides
up- to-date information about us, including the latest news, press releases
and upcoming events. This website can be accessed at www.adnas.com.
Dr. James A. Hayward, APDN's Chief Executive Officer, stated: "This has
been an exciting year of changes and restructuring. As I believe our
financial results for last year show, our new management team has adopted a
fiscally conservative yet aggressive approach to generating revenues both
near and long term and is managing our cash flow very responsibly. We
believe we are on target to move from a development stage company to a
revenue driven company in the coming year."
About Applied DNA Sciences, Inc.
Applied DNA Sciences, Inc. provides botanical DNA encryption, embedment
and authentication solutions that can help protect companies, governments
and consumers from counterfeiting, fraud, piracy, product diversion,
identity theft and unauthorized intrusion into physical locations and
databases. APDN's common stock is listed on the Over-The-Counter Bulletin
Board under the symbol "APDN." Contact: Debbie Bailey, Applied DNA
Sciences, Inc., 25 Health Sciences Drive, Stony Brook, New York 11790; Tel:
631-444-8090; Fax: 631-444-8848 http://www.ADNAS.com.
The statements made by APDN may be forward-looking in nature and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements describe our
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 market
acceptance, market competition and various other factors detailed from time
to time in our SEC reports and filings, including our Registration
Statement on Form SB-2, as amended, and Annual Report on Form 10-KSB, filed
on January 16, 2007. APDN 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
SOURCE Applied DNA Sciences, Inc.