GeneLink Reports Second Quarter Improvement
ORLANDO, Fla., Aug. 18 /PRNewswire-FirstCall/ -- GeneLink, Inc. (OTC Bulletin Board: GNLK), a leading applied genomics biotech company, reported financial results for the fiscal quarter ended June 30, 2010.
- Continued progress towards profitability: Quarterly operating loss reduced by 35% over Q2 2009
- Comparable quarter gross profit improvement of 10% over Q2 2009
- Six Month Revenues of $4,240,177 compared to $4,085,215 in the first six months of 2009
Gary Beeman, GeneLink's CEO stated, "In the first half of 2010, the Company continued to develop its position as the leader in genetically customized nutritional and personal care wellness solutions. The second quarter of 2010 continues to reflect the positive impact of the steps initiated in late 2009 to increase our profit margins. Operating losses decreased by 35% and gross margin improved 10% as compared to the prior year. GeneLink continues to focus its efforts on expansion of its current sales base while extending its sales and product offerings to new strategic and catalytic channels compatible with current initiatives."
Dr. Bernard Kasten, GeneLink's Executive Chairman added, "In addition to the progress made within GeneLink during the second quarter, the past six months confirm what GeneLink has known for over a decade -- that genetic knowledge can be utilized to make almost any personal product more effective. With key additions to executive management in first half of 2010, GeneLink is equipped to continue to develop our science, add new products, expand sales channels and execute our strategic plan."About GeneLink Biosciences, Inc.: GeneLink is a 16-year old leading biosciences company specializing in applied genomics. GeneLink's patented and patent pending technologies include proprietary genetic assessments and specific DNA tests used to guide the formulation and delivery of personalized health, beauty and wellness products. 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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