Milestone Scientific saw an 8% decrease in sales for the second quarter of 2012 (end-June 30, 2012) to $2.3 million from $2.5 million for the same quarter in 2011. Revenue for the first six months of 2012 was down 14% to $4.2 million from $4.9 million for the same period in 2011.
The decrease in sales was primarily due to a marketing shift in the U.S. toward large dental groups that have a longer selling cycle, according to the company.
Gross profit for the second quarter was down 6% to $1.5 million, compared with $1.6 million for the second quarter of 2011. Gross profit for the first six months was $2.7 million, compared with $3.1 million for the same period in 2011.
Net loss for the second quarter was $165,000, compared with a loss of $298,000 for the same quarter in 2011. Net loss for the six-month period was $520,000, compared with $440,000 for the same period in 2011. Net loss for the second quarter of 2012 included a noncash expense of $124,000 related to the medical joint venture expense that did not occur in the same period last year, the company noted.
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