Milestone Scientific, maker of computerized anesthesia injection systems, reported increased profits for the third quarter of 2010 (end-September 30), the company announced.
Net loss for the quarter was $584,000, compared with a net loss of $373,000 during last year's third quarter. Revenues climbed 1% to $1.93 million in the quarter, up from $1.91 million in the third quarter of 2009.
International sales rose 40% to $1.06 million, compared with $758,000 in the same quarter a year ago, while U.S. sales declined 25% to $866,000 from $1.15 million. Disposable handpiece sales increased 8% to $1.48 million, up from $1.37 million, while sales of instruments fell 17% to $427,000, down from $512,000 in the same quarter last year.
"During the third quarter we implemented a number of refinements to our domestic sales strategy, the positive results, of which, have already begun to take hold," Milestone CEO Leonard Osser said in a press release. "We expect these changes will significantly increase the amount of instruments, and more importantly, disposables in the market."
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