Donlar Biosyntrex Projects Record Revenue and a 45% Year Over Year Increase in Quarterly Sales.Business Editors BEDFORD PARK Bedford Park is the name of several places around the world:
Donlar Biosyntrex Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : DBSY), a world leader in green chemistry, products and technology, today announced that the Company expects to report revenue of approximately $880,000 for the first quarter ended March 31, 2002, up roughly 45% from revenue reported for the first quarter of 2001. The first quarter's record revenue also represents a more than 30% increase from revenues achieved in the fourth quarter of 2001. The primary source of the Company's revenue growth continues to be in the oil field services industry, where Donlar continues to make inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ with its environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] and biodegradable products. Initial revenue growth is now being seen for agricultural applications of Donlar's products, augmenting the acceptance of the Company's products for non-polluting consumer detergents. The Company expects to release full financials for the first quarter in early May, and expects to report that operations were cash flow positive for the quarter. Larry Koskan, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Donlar, stated: "For the second consecutive quarter, our overall operations have been cash flow positive. We continue to see growth in all of our product areas, and have been pleasantly surprised by the initial demand for our agricultural products. We are also pleased to report that we are on track in meeting our primary business plan targets, especially with respect to overall revenues, expense controls and the attainment of positive cash flow. Each of our primary businesses represents billion dollar markets, providing us with tremendous opportunities for further, significant long term growth." About Donlar Donlar Biosyntrex Corporation is at the forefront of providing a new class of protein biopolymers that help customers by providing solutions while satisfying environmental concerns for the creation of non-toxic products for a wide range of industrial, agricultural and consumer markets. The Company's non-hazardous, non-toxic, hypoallergenic hy·po·al·ler·gen·ic adj. Having a decreased tendency to provoke an allergic reaction. hypoallergenic (hī´pōal´urjen´ik), adj , environmentally friendly and biodegradable thermal polyaspartate (TPA (Transient Program Area) See transient area. TPA - Transient Program Area ) biopolymers are protected by 140 Company owned patents. The Company's initial applications for its products include the markets of oil field operations, fertilizers, detergents and water treatment. Donlar's beta-protein biopolymers are manufactured in its 50,000 square foot facility located in Peru, Illinois Peru is a city in LaSalle County, Illinois, United States. The population was 9,835 at the 2000 census. Geography Peru is located at (41.334458, -89.127385). . (www.donlar.com) This press release contains 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. Actual results could differ materially from those projected in the forward-looking statements, which involve a number of risks and uncertainties. The contents of this release should be considered in conjunction with the risk factors in Donlar Biosyntrex's most recent filings with the Securities and Exchange Commission on Forms 10-QSB and 10-KSB and current reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . |
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