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

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  • Loss from operations declined 13% to $508,000 from $582,000.
  • Net loss totaled $562,000, or $0.05 loss per basic and diluted share, down 9% from $616,000, or $0.05 loss per basic and diluted share.

  • As of March 31, 2009, Milestone had $1.60 million in cash and accounts receivables, working capital of $1.19 million and total shareholders' equity of $1.06 million.

    According to Leonard Osser, Chairman and interim CEO, "2009 has started off on very solid footing, buoyed by strong market acceptance and accelerating adoption of our award-winning STA System by the global dental industry. With the recent addition of China National Medicines Corporation, d/b/a Sinopharm, to our growing worldwide distribution network, we have good reason to be enthusiastic about our anticipated sales performance in the coming quarters."

    Continuing, Osser noted, "As we progress through 2009, we plan to expand Milestone's worldwide sales and marketing resources to further enhance our revenue growth potential, with particular emphasis centered on strengthening our distribution channels in Europe. We are also concentrating our efforts on pursuing several potential strategic collaborations to develop new product applications using our patented CompuFlo(R) technology that have been deemed the most promising and commercially viable. We look forward to providing details regarding our success on these and other important objectives in the near future."

    Unfortunately, Milestone's management team is unable to host a conference call in tandem with the release of the first quarter results due to unexpected scheduling conflicts. However, the Company will resume its practice of hosting regular quarterly calls with the release of its second quarter results. Questions regarding the results or other Milestone-related matters should be directed to Dodi Hand
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    SOURCE Milestone Scientific Inc.
    Copyright©2009 PR Newswire.
    All rights reserved

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