GeneLink Reports First Quarter Gains
ORLANDO, Fla., May 11 /PRNewswire-FirstCall/ -- GeneLink, Inc. (OTC Bulletin Board: GNLK), a leading consumer genomics biotech company, today reported financial results for the fiscal quarter ended March 31, 2010.
- Continued progress towards profitability: Quarterly operating loss reduced by 14% over Q4 2009
- Comparable quarter gross profit improvement over Q1 2009 of 37%
- Q1 Revenues of $2,221,111, a 12.6% increase over Q1 2009
Gary Beeman, GeneLink's CEO stated, "The first quarter of 2010 continues to reflect the positive impact of the steps initiated in late 2009 to increase our profit margins as GeneLink continued to make progress towards profitability in 2010, with operating losses dropping 14% as compared to the prior quarter. In addition to continuing our investment in growing and improving the financial performance of our existing GeneWize sales operations, we are focusing on expanding the revenue base at GeneLink in market areas that we previously could not reach."
Dr. Bernard Kasten, GeneLink's Executive Chairman added, "The first quarter was notable not only for the continued reduction of losses, but more so for the addition of Gary Beeman as CEO. Gary has already helped GeneLink expand its vision and aspirations in ways which will start to evidence themselves in the coming months in our product offerings, business partnerships, and financial performance."About GeneLink Biosciences, Inc.: GeneLink is a 16-year old leading biosciences company specializing in consumer genomics. GeneLink's patented and patent pending technologies include proprietary genetic assessments and specific DNA tests linked to personalized health, beauty and wellness applications and products. Its DNA assessments provide information that enables the customization of nutritional products, vitamin and supplement products, specific-condition nutraceuticals, skincare products and health maintenance regimens designed to fulfill individual consumer wellness needs. For more information visit www.genelinkbio.com This release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in the press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. GeneLink disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future developments or otherwise. SOURCE GeneLink, Inc.
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