CEO. In addition, in the fall, Robert (Bob) Presutti joined Milestone
as VP of Sales and Marketing, assuming the overall coordination,
functional management and leadership of all sales, marketing and
customer service activities of the Company. Subsequent to the end of
2007, Joseph D'Agostino joined Milestone as the new Acting Chief
Financial Officer, replacing former Acting CFO Arthur Goldberg, who
left the Company to pursue other career opportunities.
Key Financial Highlights:
-- Total revenue increased approximately 9% to $6.39 million, up from
$5.84 million in 2006.
-- Domestic revenue, favorably impacted by more than $1.15 million in
sales of the Company's new STA System offset by a 55% decrease in
domestic sales of the legacy CompuDent(R) system. Total domestic
revenue rose 10.8% to $4.59 million from $4.15 million on a comparable
year-over-year basis. Domestic revenues represented 73% of total sales
for the year, compared to 75% in the prior year.
-- International sales also improved, rising to $1.68 million from $1.42
million, despite a year-over-year 44% decline in sales of CompuDent
systems. This revenue growth was largely attributable to $165,000 in
sales of the new STA System, as well as a 47% increase in sales of
disposable hand pieces used in conjunction with both the CompuDent and
STA System. International sales were 27% of total 2007 sales, a modest
increase from 26% of total sales reported in 2006.
-- Gross profit margins saw a significant improvement, rising to 55% from
48%. This improvement was due primarily to the market launch of the
STA System, reduced inventory write downs in 2007 when compared to
2006, and an increase in global sales of hi
|SOURCE Milestone Scientific, Inc.|
Copyright©2008 PR Newswire.
All rights reserved