Milestone Scientific expects to report a $2 million year-over-year increase in revenues for the most recent fiscal year (end-December 31), despite some shipping delays and the ongoing repercussions of the economic recession.
The company said it expects to report full-year revenues of $8.4 million to $8.5 million, compared to revenues of $6.6 million reported for 2008.
Revenues for the fourth quarter of 2009 are expected to exceed $2.2 million, compared to $1.85 million for the same period in 2008.
"We are very pleased with our performance in the fourth quarter, particularly in view of the fact that we were not able to benefit from shipment of an approximate $450,000 order for STA handpieces prior to year end," said Leonard Osser, Milestone's CEO, in a press release. "With that shipment now processed and STA unit and related handpiece sales showing strength, 2010 is off to a very good start and shows promise to be an exciting growth year for Milestone."
The company expects to report its audited 2009 financial results on or before March 31, 2010, and will host a conference call to discuss the results and other corporate developments at that time.
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