ORLANDO, Fla., Aug. 16, 2011 /PRNewswire/ -- GeneLink,
Inc. (OTCBB: GNLK, "the Company," or "GeneLink"), a leading
consumer genomics biotech company, today reported financial results
for the quarter ended June 30th,
2011.
Financial Highlights for the three months ended June 30, 2011 and June 30,
2010:
- Gross profit margin improved to 65.1% from 64.3% in the prior
year.
- Net sales were $1,400,187,
compared to $2,221,111 in the prior
year.
- Operating losses were $772,832
compared to $494,358 in the prior
year.
Bernard L. Kasten, M.D.,
GeneLink's Chairman and CEO stated, "In the first half of 2011,
GeneLink refocused its business strategy on expanding our offerings
and revenues through strategic business relationships. These
efforts have initially resulted in previously-announced
transactions involving a direct-response marketing agreement in
conjunction with a team led by Mr. Robert
Trussell, the founder of Tempur-Pedic Inc., and the
execution of a letter of intent with Capsalus Corp.(OTCBB: WELL) to
sell the licensing rights and assets of our GeneWize Life Sciences,
Inc. direct-selling subsidiary. We are working proactively to
support the anticipated increased sales volume from these and
additional potential relationships in the coming months. The
positive reactions to our business plan and achievements have
enabled GeneLink to raise $2,843,500
since December 30, 2010 to capitalize
the company for this anticipated growth. We believe that we have
laid a foundation that builds on GeneLink's strong scientific and
intellectual property foundations and innovative skincare and
nutrition products, positioning it for improved financial results
in the fourth quarter of 2011 and beyond."
About GeneLink Biosciences, Inc.:
GeneLink is a 17-year old leading biosciences company
specializing in consumer genomics. GeneLink's patented technologies
include proprietary DNA assessments linked to personalized
nutrition, skincare and wellness applications and 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.