Applied DNA Sciences Reports Fiscal Year End 2012 Results

STONY BROOK, NY--(Marketwire - Dec 20, 2012) - Applied DNA Sciences, Inc. ( OTCBB : APDN ) announced its financial results for the year ending September 30, 2012, generating annual revenues of $1.85 million. This is the company's highest recorded annual revenues, and represents a ninety-one percent (91%) year-over-year increase.

For the years ending September 30, 2012 and 2011, the company generated $1,854,694 and $968,848 in revenues from operations, respectively. The 91% increase in revenues was substantially generated from sales of our SigNature DNA and BioMaterial Genotyping as a result of an increase in our customer base.

Our top two and three customers were responsible for approximately 54% and 53% of our revenues for the years ended September 30, 2012 and 2011, respectively. In addition, two and four customers accounted for approximately 54% and 77% of total accounts receivable at September 30, 2012 and 2011, respectively.

Selling, general and administrative expenses for the twelve months ended September 30, 2012 decreased 9.2% to $7,615,734 from $8,388,873 in the same period in 2011. Included within the selling, general and administrative expenses for the year ended September 30, 2012 was a noncash charge to operations of $2,012,082 for the fair value of vested options issued to officers and employees and other stock based compensation compared to $3,668,460 in 2011.

Research and development expenses increased by $163,793 for the twelve months ended September 30, 2012 compared to the same period in 2011 from $268,876 to $432,669, primarily due to an increase in research and development activities to support our increased customer demand.

Total operating expenses decreased to $8,362,343 for the twelve months ended September 30, 2012 from $9,025,305 in the same period of 2011, or a decrease of $662,962, primarily due to decrease in stock based compensation expenses net with the increase in research and development compared to the same period last year.

Net loss for the twelve months ended September 30, 2012 was $7,150,712 compared to $10,515,124 in the same period of 2011, a net change of $3,364,412 as a result of the combination of factors described above.

Key 2012 achievements include:We filed a number of new patents and trademarks this year, continuing to build upon our already strong intellectual property portfolio. We will continue to build our patent and trademark portfolio and we will vigorously defend our IP position and prosecute others attempting to infringe on our IP.

Working with Safe Solution, we continue to expand in Sweden.In addition to using our technology to protect jewelry stores, our DNA markers are now being used to protect armored vehicles in Stockholm and to protect copper assets located in Energy stations throughout that country.

On August 3, 2012, the Defense Logistics Agency (DLA) posted notice on its DLA Internet Bid Board System (DIBBS) that effective November 15, 2012, it will require the use of SigNature DNA marking on microcircuits. This mandate specifically requires SigNature DNA marking for procurements of items falling within Federal Supply Class 5962, Electronic Microcircuits. We expect this to have a positive impact on the Company this coming fiscal year.

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Applied DNA Sciences Reports Fiscal Year End 2012 Results