LDNA OTC BB 1.10/1.15...extremely undervalued...company on course to do better than $.25 per sh for year:
(COMTEX) B: Lark Technologies Inc. Reports Fourth Consecutive Profitable
B: Lark Technologies Inc. Reports Fourth Consecutive Profitable Quarter and
Record Nine Months EPS of $0.18
HOUSTON, Oct 31, 2002 (BUSINESS WIRE) -- 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.
CONTACT: Lark Technologies, Houston
Carl W. Balezentis, Ph.D., 713/779-3663 Ext. 134
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KEYWORD: TEXAS
INDUSTRY KEYWORD: BIOTECHNOLOGY
MEDICAL
PHARMACEUTICAL
EARNINGS
SOURCE:
Lark
Technologies
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