LDNA otc bb 1.20..when/if/when the efficient mkt theory catches up with Lark here were are going to see much higher prices. The resounding success of the latest qtr has been lost on most investors thus far but I don't think that will be the case for too much longer. They made approx $400,000 dollars for the qtr or 11 cents (a Lark record performance) and $500,000 or 14 cnets for the 6mo...and that was with only slighly higher revenue for the qtr..up 3% for the qtr and 10% for the six months. A new sales rep and a new VP for ops should help move the top line higher and with the efficiencies now in place inside the busienss model we should be in good shape for this year. Beyond this year who knows but I have always thought one of these days Lark would start hitting the long ball and maybe we are there.
2nd qtr:
B: Lark Technologies Inc. Reports Record Profitability of $0.11
B: Lark Technologies Inc. Reports Record Profitability of $0.11 Per Share for
Second Quarter of 2002
HOUSTON, Jul 26, 2002 (BUSINESS WIRE) -- Lark Technologies Inc. (OTCBB:LDNA)
today reported its highest quarterly net income in the Company's history. Net
income from operations in the second quarter, 2002 was $397,494, or basic income
per share of $0.11, a 216% improvement over the $125,701, or $0.04 per share
earned in the second quarter of 2001. For the first six months of 2002 net
income was $493,720, or $0.14 basic income per share, versus a loss during the
same period in 2001 of $192,813, or ($0.05) per share.
Revenues increased 3% to $1,911,066 in the second quarter of 2002 over revenues
of $1,859,917 in the second quarter of 2001. For the six months ending June 30,
2002, revenues increased 10% to $3,392,065 over revenues of $3,079,792 in the
same period of 2001.
Commenting on the quarter, Lark Technologies Inc. Chief Executive Officer Carl
W. Balezentis, Ph.D. said, "We are obviously very pleased with the results
through the first half of the year. The cost-cutting and productivity-enhancing
measures we have been introducing into the company's laboratory operations over
the past one and one-half years are finally having a significant impact on our
bottom line. The result of these efforts is clearly evident in the 52% gross
profit margin reported in the latest quarter versus the year 2001's gross profit
margin of 34%. Looking forward, we will continue to focus on improving our
processes, reducing our costs, refining our strategies, reinvesting in
state-of-the-art instrumentation and automation, and capitalizing on growth
opportunities."
Also commenting on Lark's latest financial results, Co-Board Chairmen George M.
Britton and David A. Lawson said, "We are very proud of Carl and all of our
employees who have revamped and turned the company's operations around. For the
first time in Lark's twelve-year history, we believe the company is profitably
exploiting the numerous opportunities available to it in the market place. As
large shareholders in the company, we are keenly interested in enhancing
shareholder value which we believe is clearly illustrated by recent financial
results. Illustrative of the company's financial health over the trailing twelve
months ended June 30, 2002 are: (1) basic earnings per share of $0.20, (2) a
return on stockholder equity of 60%, and (3) a greatly improved liquid balance
sheet with very little debt. Moving forward, we believe Lark's next great
challenge will be to significantly grow its revenue base through expanded sales
efforts and by the successful introduction of new laboratory services."
Lark Technologies Inc., based in Houston, Texas, offers genomic services for use
in pharmaceutical, diagnostic and agricultural product research and development.
These services include genomic data management, microarray support, quantitative
PCR, genotyping, genetically-modified organism testing, and a battery of other
molecular biology services which support researchers in the pharmaceutical,
biotechnology and academic sectors in their attempt to understand the mechanisms
of disease and to discover and develop new drugs. Lark's stock is quoted on the
OTC Bulletin Board under the symbol "LDNA.OB". |
