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Milestone Scientific Announces Third Quarter 2009 Results
Date:11/12/2009

PISCATAWAY, N.J., Nov. 12 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. (OTC Bulletin Board: MLSS), the recognized leader in advanced injection technologies, today announced its third quarter financial results for the three and nine months ended September 30, 2009.

Financial Highlights When Comparing Nine Months Ended September 30, 2009 with Nine Months Ended September 30, 2008:

  • Total revenues rose 29% to $6.15 million from $4.77 million.
    • International sales increased 38% to $2.11 million, up from $1.53 million.
    • Sales in the U.S. grew 26% to $4.04 million from $3.21 million.
    • Instrument sales totaled $2.11 million, rising 150% from $847,000.
    • Sales of disposable hand pieces increased 3% to $3.97 million from $3.84 million.
  • Gross profit margin was 60%, declining from 62%.
  • Loss from operations was $1.46 million compared to $1.19 million. The increase was due primarily to higher expenses related to marketing and promotional activities to support continued sales growth; as well as non-cash charges related to stock compensation of $787,000 issued during the first nine months of 2009 for compensation, consulting and vendor services.
  • Net loss was $1.59 million, or $0.12 loss per basic and diluted share, compared to a net loss of $1.28 million, or $0.10 loss per basic and diluted share.

Financial Highlights When Comparing Three Months Ended September 30, 2009 with Three Months Ended September 30, 2008:

  • Total revenues increased 5% to $1.91 million, up from $1.82 million.
    • International sales climbed 54% to $758,000 from $490,000.
    • U.S. sales totaled $1.15 million, declining 13% from $1.32 million.
    • Total instrument sales rose 3% to $512,000 from $499,000.
    • Disposable hand piece sales increased 6% to $1.37 million from $1.30 million.
  • Gross profit margin improved to
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SOURCE Milestone Scientific Inc.
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