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Milestone Scientific Reports Strong Sales Growth in First Quarter 2009 Results
Date:5/8/2009

Sales of STA Systems Increase More Than Six-Fold and Recurring Handpiece Sales Increase 22% on Comparable Quarter-Over-Quarter Basis

LIVINGSTON, N.J., May 8 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. (OTC Bulletin Board: MLSS), the recognized leader in advanced injection technologies, today announced its first quarter financial results for the three months ended March 31, 2009.

Financial Highlights When Comparing Three Months Ended March 31, 2009 with Three Months Ended March 31, 2008:

  • Total revenues climbed 58% to $2.21 million, up from $1.40 million.
    • Total instrument sales rose 261% to $792,000 from $219,000.
      • Sales of the STA Single Tooth Anesthesia System(TM) totaled $617,000, up 626% over $85,000.
    • Sales of disposable handpieces increased 22% to $1.40 million from $1.15 million.
    • Overall domestic sales grew 65% to $1.48 million from $898,000.
    • International sales increased 48% to $726,000 from $490,000.
  • Total operating expenses rose 18% to $1.80 million from $1.52 million.
    • Selling, general and administrative expenses increased 17% to $1.73 million from $1.47 million, due largely to $426,000 in increased sales and marketing costs in the first quarter of this year relating to media placement, trade show participation, sales promotions, increased field sales personnel, higher third party sales commissions and international selling participation; this increase was offset by a $92,000 decrease in professional accounting services due to completion of the Sarbanes-Oxley initiative and lower audit fees and a $57,000 decrease in consulting services.
    • Research and development expenses totaled, $68,000 rising 42% from $48,000.
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SOURCE Milestone Scientific Inc.
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