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DNA PLANT TECHNOLOGY 1991 FULL YEAR AND FOURTH QUARTER RESULTS

 DNA PLANT TECHNOLOGY 1991 FULL YEAR AND FOURTH QUARTER RESULTS
 CINNAMINSON, N.J., March 13 /PRNewswire/ -- DNA Plant Technology Corporation (NASDAQ: DNAP) today reported that revenue at its joint ventures increased in the fourth quarter of 1991 to $1,055,000 from $347,000 in the same period of 1990. For the full year 1991, revenue at these joint ventures more than doubled to $3,636,000 from $1,520,000 in 1990, setting the stage for an increasing growth rate in 1992 and coming years.
 For the fourth quarter of 1991, DNAP had revenue, excluding revenue of its joint ventures, of $3,361,000 compared to $3,148,000 in the year-earlier period. The company had a net loss for the quarter of $4,480,000, or $.25 per share, compared to a net loss of $3,113,000 or $.15 per share, in the fourth quarter of 1990.
 Excluding revenue of its joint ventures, revenue was $10,902,000 with a net loss of $14,941,000, or $.75 per share, for the full year ended December 31, 1991. For 1990, the company had revenue of $13,427,000 and a net loss of $8,939,000, or $.43 per share.
 "Results for 1991 reflect our planned investment in building a strong technology base and in joint ventures to support the market introduction of new products and expansion of product sales in each of our three primary business areas -- branded produce, edible oils and diagnostics," said Richard Laster, DNAP chairman and chief executive officer. "Following a successful public equity offering in October, DNAP ended the year in a strong financial position with over $40 million in cash resources. "FreshWorld, our branded produce joint venture with Du Pont, has expanded distribution channels for VegiSnax carrots and celery sticks, adding the 500-store Wawa convenience chain in the Mid- Atlantic region. FreshWorld's test market introduction of proprietary sweet mini peppers, the first addition to the VegiSnax line, has received enthusiastic consumer response. In addition to distribution through its restaurants in selected metropolitan areas, McDonald's now features FreshWorld's carrot sticks in Happy Meals on all United Airlines flights to Orlando, Fla. FreshWorld's revenues for 1991 Reached $1.5 million, up from $.3 million in 1990. FreshWorld plans to expand sales of VegiSnax vegetables in 1992 by increasing distribution through retail and institutional markets.
 "InterMountain Canola, our edible oils joint venture with Du Pont, realized its first commercial sales in late 1991 with an agreement to supply the company's heat-stable Clear Valley(TM) brand canola oil to a Fortune 50 company for the production of test quantities of potato chips which are now in regional distribution. InterMountain Canola has been working with several other large food companies, and based on current interest in the product, InterMountain plans to more than double last year's canola production of 25,000 acres, making it the largest grower of canola in the U.S.
 "Increasing our focus on our core business areas, we have reached an agreement to acquire 90 percent ownership in Agri-Diagnostics Associates, our joint venture with Union Carbide. Agri-Diagnostics is expanding its portfolio beyond agriculture to provide diagnostic products for the burgeoning field of environmental remediation. Market testing of diagnostic kits for environmental contaminants will begin this year following sales of a line of kits for the detection of pesticide residues in soil and water samples which began in 1990. Agri-Diagnostics' revenues rose to $1.9 million for 1991 from $1.2 million in 1990.
 "The recently acquired license of ACC synthase technology combined with our extensive fresh market tomato germ plasm collection, as well as our successful field trials of tomatoes modified to express a high level of an antifungal enzyme will further strengthen our pre-eminent position in tomatoes. A test market introduction of a significantly improved fresh market tomato is targeted for 1993," Laster said.
 DNAP is a leading agricultural biotechnology company, applying a spectrum of technologies to develop and commercialize plant-based products, agricultural and environmental diagnostics, and ice modification products and processes for the industrial and consumer markets.
 DNA PLANT TECHNOLOGY CORPORATION
 Condensed Consolidated Statements of Operations
 (Unaudited, in thousands, except per share amounts)
 Periods ended: Three Months Twelve Months
 Dec. 31: 1991 1990 1991 1990
 Revenue (excluding joint
 venture revenue show below):
 Product development agreements $ 2,476 $ 2,517 $ 8,876 $10,705
 Interest 689 548 1,779 2,559
 Royalty 196 83 247 163
 Total revenue (excluding joint
 venture revenue shown below) 3,361 3,148 10,902 13,427
 Operating expenses:
 Research and product development 3,351 3,588 12,137 13,868
 General and administrative 617 712 2,964 2,917
 Total expenses 3,968 4,300 15,101 16,785
 Loss before equity in loss
 of joint ventures (607) (1,152) (4,199) (3,358)
 Equity in loss of joint ventures (3,873) (1,961) (10,742) (5,581)
 Net loss (4,480) (3,113) (14,941) (8,939)
 Preferred stock dividends 776 -- 776 --
 Net loss applicable to
 common stockholders $ (5,256) $ (3,113) $(15,717)$(8,939)
 Net loss per common share $ (0.25) $ (0.15) $(0.75) $(0.43)
 Weighted average number of
 common shares outstanding 20,793 20,846 20,818 20,801
 Revenue of joint ventures(A): $ 1,055 $ 347 $ 3,636 $ 1,520
 (A) -- The revenues of the company's joint ventures shown here are not included in the company's total revenue.
 -0- 3/13/92
 /CONTACT: Richard Sykes of DNA Plant Technology, 914-241-4959, or Fredric Spar of Kekst and Company, 212-593-2655, for DNA Plant Technology/
 (DNAP) CO: DNA Plant Technology Corporation ST: New Jersey IN: MTC SU: ERN


TS -- NY022 -- 7735 03/13/92 10:43 EST
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