Milestone Scientific, makers of computerized injection instruments, reported an increase of 52% in net revenues for the second quarter of this year.
For the period (end-June 30), the company reported net revenues of $2.03 million, compared to $1.54 million in the same period last year.
The company also reported increased gross profits of $1.2 million, compared to $955,000 in the second quarter of 2008, but increased expenses led to a net loss of $657,000 versus $473,000 for the same quarter a year ago.
Total instrument sales increased 533%, while disposable handpiece sales dropped 14%, Milestone said.
The company attributed the increase in expenses primarily to promotional and marketing efforts, including a symposium it sponsored and various trade shows it attended.
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