A "marketing shift" is being blamed for a decrease in Milestone Scientific's third-quarter revenues for 2011.
Revenue for the quarter (end-September 30) was $1.7 million, down from $1.9 million for the third quarter of 2010. Net loss for the quarter was $637,000, versus a loss of $584,000 for the same period in 2010.
The decrease in sales was primarily due to a marketing shift in the U.S. toward large dental groups which have a longer selling cycle, the company noted. This resulted in lower instrument sales, partially offset by an increase in domestic handpiece sales due to higher usage rates among dentists.
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