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.
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 pl
|SOURCE GeneLink, Inc.|
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