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Strategies & Market Trends : Fatty's Donut Shop -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (4413)	11/16/1999 1:41:00 AM
From: Loren S.	Read Replies (1) \| Respond to of 5041

LDNA reports great quarterly earnings. Outstanding shares 3.3 million, float 2.4 million: <<Monday November 15, 12:14 pm Eastern Time Company Press Release Lark Announces Quarterly Earnings Record Revenues in Third Quarter 1999 HOUSTON--(BUSINESS WIRE)--Nov. 15, 1999--Lark Technologies Inc. (OTCBB:LDNA - news) announced record revenues for the quarter ended September 30, 1999. Revenues achieved the highest level for any quarter at Lark. Revenues increased 117% to $1,468,824 in the third quarter of 1999 from revenues of $678,333 in the third quarter of 1998. Net income for the third quarter of 1999 was $156,756 or $0.05 per share, as compared to a loss of $410,451 or $0.12 per share for the third quarter of 1998. For the nine months ending September 30, 1999, revenue increased 22% to $3,712,762 compared to $3,054,924 during the same period in 1998. Net income for the first nine months of 1999 was a loss of $81,831 or $0.02 per share compared to a loss of $199,816 or $0.06 per share for the first nine months of 1998. Vince Kazmer, Lark's president, commented ''We are very pleased with the results of our efforts during the third quarter. In prior years the third quarter was usually the weakest quarter of the year due to seasonality factors. To achieve record revenues during the third quarter speaks highly of both our sales/marketing team and operations staff. The revenues were attributable to good demand for Lark's services in both the US and UK. Lark's revenue included strong performance for sequencing services and new product lines such as Quantitative PCR services. Additionally, our revenue mix was not dependent on a single large customer but consisted of a wide range of customers.'' Mr. Kazmer continued, ''We have experienced a steady rise in our average monthly bookings for each quarter of this year. The average monthly bookings for the first, second and third quarters of 1999 were approximately $285,000, $420,000 and $493,900 respectively. These results support the effectiveness of Lark's genomic services business model. Demand for Lark's genomic services is driven by the discovery of new genes and related novel drug development targets. These services now support the drug development pathway from research through clinical trials. Demand for Lark's capabilities in the agricultural business sector is also growing due to increased pressures for development and testing of genetically modified crops.'' Separately, Mr. Steve Banks, chairman of Lark's Board of Directors, noted that the Board accepted Mr. Vince Kazmer's resignation as president of Lark effective November 30, 1999. Mr. Kazmer has decided to pursue other corporate ventures, and Lark's Board is appreciative of all his contributions to the Company and wish him well in the future. Mr. Banks expects the announcement of a new acting president very shortly. Mr. Banks also stated the company would continue its activities to raise additional funds in order to implement a more aggressive growth strategy. Lark Technologies Inc., based in Houston, Texas, is a leading molecular biology contract research organization (CRO) serving the rapidly growing genomics industry. The company was founded in 1989 by BCM Technologies Inc., the wholly-owned venture, technology transfer subsidiary of Baylor College of Medicine. Lark's stock is quoted on the OTC Bulletin Board under the symbol ''LDNA''. Company information is located at its website (http://www.lark.com). 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 Inc., Houston Doug Wheeler, 713/464-7488