GeneLink Reports Third Quarter Results
ORLANDO, Fla., Nov. 18, 2010 /PRNewswire-FirstCall/ -- GeneLink, Inc. (OTCBB: GNLK), a leading consumer genomics biotech company, today reported financial results for the fiscal quarter ended September 30, 2010.
- Gross Profit Margin Increase of 28%
- GeneLink named to Deloitte's Technology Fast 500™ for the second year in a row
- GeneLink announces Private Label Agreement with Helix Life
Gary Beeman, GeneLink's CEO stated, "The third quarter of 2010 continues to reflect the positive impact of the steps initiated in late 2009 to increase our profit margins as margins increased 28% over the comparable quarter -- a significant accomplishment. Our top line sales were down slightly, due in part to seasonality in our GeneWize market sector and the continuing US economic conditions. We were pleased that GeneLink was honored with its second Deloitte's Technology Fast 500™ award as the 62nd fastest growing company in North America in 2009, 17th fastest in the Biotechnology/Pharmaceutical sector. We announced our 'Powered by GeneLink' private label DNA technology licensing program with health and wellness products provider HelixLife ( www.HelixLife.com) in the third quarter. GeneLink also announced new 'youth' products for our nutritional and skin care lines which will now allow us to serve the important and influential 12-18 year-old market sector, giving us the ability to now serve entire families through our GeneWize direct selling channel and also HelixLife. We expect these and other initiatives to contribute to our top-line growth going forward. The combination of fundamental profit improvement and increasing and diversified revenue opportunities globally is our strategy for shareholder value."
Dr. Bernard Kasten, GeneLink's Executive Chairman added, "I am pleased to see GeneLink focusing on its core competitive strengths again. In the third quarter our Scientific Advisory Board and Management Team has been focused on R&D, product development, infrastructure expansion and continued leadership in regulatory compliance and quality. As the pioneer in genetically-guided nutrition and skin care, GeneLink continues to focus on strengthening our leadership position and leading the growth in consumer genetics."About GeneLink Biosciences, Inc.: GeneLink is a 16-year old leading biosciences company specializing in consumer genomics. GeneLink's patented technologies include proprietary DNA test assessments linked to personalized health, beauty and wellness applications and products. Its DNA assessments provide information that enables the customization of nutritional and skincare products designed and manufactured to fulfill each individual consumer's 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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