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GeneLink Reports 2010 Results
Date:4/4/2011

ORLANDO, Fla., April 4, 2011 /PRNewswire/ -- GeneLink, Inc. (OTCBB: GNLK, "the Company," or "GeneLink"), a leading consumer genomics biotech company, today reported financial results for the fiscal year ended December 31, 2010.

Financial Highlights:

  • Gross margin increased from $4,906,710 in 2009 to $4,997,367 in 2010;
  • Annual net sales decreased 8.4%, $7,839,972 for 2010 as compared to $8,561,455 in 2009;
  • Operating losses in 2010 decreased to $2,169,898, a decrease of $292,329 from operating losses of 2009.  Excluding non-cash charges relating to the granting of stock, options and warrants, operating losses decreased $589,078 for 2010 as compared to 2009.

Dr. Bernard Kasten, GeneLink's Chairman and CEO stated, "The steps we took to improve our profit margins beginning in late 2009 and throughout 2010 have begun to show results.  Despite a decrease in revenue, gross margin improved $90,657 from $4,906,710 in 2009 to $4,997,367 in 2010. As a percent-of-revenue, the gross margins increased from 57% in 2009 to 64% in 2010.  This was largely due to improved pricing instituted late in 2009, as well as management's efforts to better control costs related to production.  These enhanced fundamentals bode well for the future financial success of GeneLink, as the Company expects to return to growth in the second half of 2011 through channel partner expansion as well as through growth in GeneWize."

Dr. Kasten added: "2010 was an important year from GeneLink.  We have put in place a large portion of the infrastructure necessary to expand our revenue base. The year-end agreement with Robert Trussell, founder of Tempur-pedic, Inc., to market GeneLink's proprietary products through his experienced direct response team is expected to commence producing revenue in the second half of 2011. GeneLink is now focused on our strengths in support of our chann
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SOURCE GeneLink, Inc.
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