LARK Tech..LDNA 1.15, is putting in a remarkable year. While investing over $1.1m in new equipment they are turning in their best year ever...profits the like of which I have NEVER seen since following the company the last many years....and, in today's statement they are looking for further advances next year............this year should make their estimate of net inc of $.25 per sh, maybe even beat it the way things are going, and we may finally be headed to the Amex...I mean...........look at the trailing twelve month numbers...and they should get better...at a buck fifteen you have to buy...and keep buying up to some point I don't know yet.........:
(BSNS WIRE) Lark Technologies Inc. Reports Fourth Consecutive Profitable Qu
Lark Technologies Inc. Reports Fourth Consecutive Profitable Quarter and Record
Nine Months EPS of $0.18
Business Editors & Health/Medical Writers
HOUSTON--(BUSINESS WIRE)--Oct. 31, 2002--Lark Technologies Inc.
(OTCBB:LDNA) today reported that revenues increased 23% to $1,571,620
in the third quarter of 2002 from revenues of $1,279,563 in the third
quarter of 2001. For the nine months ending Sept. 30, 2002, revenues
increased 14% to $4,963,686 from revenues of $4,359,355 in 2001. The
increase in revenue during the quarter over the comparable period in
2001 was the result of increased sales across our core sequencing and
genetic stability testing services.
Net income from operations in the third quarter of 2002 was
$153,707 or earnings per share of $0.04, reflecting an increase of
$0.05 for the quarter compared with prior year earnings per share of
($0.01). Net income from operations increased $201,052 compared with
prior year earnings of ($47,345). Earnings per share for the nine
months ending Sept. 30, 2002 were $0.18 per share compared to ($0.07)
per share in the same period of 2001.
Trailing twelve month financial highlights include revenues of
$6,644,796, operating income of $1,021,526, earnings per share of
$0.26, and an annual Return on Shareholder's Equity (ROE) of 73%. Thus
far in 2002, Lark has invested over $1.1 million in capital equipment
to meet increased demand for its services.
Commenting on the financial results, Lark Technologies Inc. Chief
Executive Officer Carl W. Balezentis, Ph.D. said, "While we incurred
some additional costs during the quarter that resulted in a slightly
lower earnings per share, we are still on target for our earnings
target for the year. We feel that we still have room for improvement
in our gross margins and net income over the next year."
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".
Except for the historical information contained herein, the
matters set forth in this press release are forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that may cause
actual results to differ materially. These forward-looking statements
speak only as of the date hereof. Lark disclaims any intent or
obligation to update these forward-looking statements.
--30--MJB/ho*
CONTACT: Lark Technologies, Houston
Carl W. Balezentis, Ph.D., 713/779-3663 Ext. 134
KEYWORD: TEXAS
INDUSTRY KEYWORD: BIOTECHNOLOGY MEDICAL PHARMACEUTICAL EARNINGS
SOURCE: Lark Technologies
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