Remedent reported a 62% increase in net sales year over year for the first quarter of 2010, thanks to the inclusion of the company's Asian retail operations and the sale of its First Fit intellectual property.
For the quarter (end-June 30), net sales were $3.4 million, up from $2.1 million for the same quarter a year ago. Profits for the quarter were $568,000 compared with losses of $488,000 for the first quarter of 2009.
"The shifting of our business model from wholesale (B2B) model via a distributor to a direct retail model is beginning to bear fruit," said Guy De Vreese, CEO, in a press release. "During the current quarter we included our retail Asian operations of approximately $600,000 in gross revenues as we are continuing to open new spa locations in both Europe and Asia during the next quarter and in the remainder of our financial year."
Remedent manufactures and markets porcelain veneer, teeth whitening, sensitivity, and oral hygiene products and has a strategic partnership with Den-Mat Holdings.
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