Remedent, an international company specializing in research, development, and manufacturing of oral care and cosmetic dentistry products, reported net sales of $3.25 million for its 2011 fiscal third quarter (end-December 31, 2010), a 77% increase over net sales of $1.83 million for the same quarter a year ago.
The increase in sales was mainly due to increased sales in its Glamsmile facilities in Beijing and Hong Kong, the company said.
Net profit for the quarter was $169,000, compared to a net loss of $1 million for the same year ago quarter.
"The shifting of our business model from a wholesale (B2B) model via a distributor to a direct retail model is bearing fruit," CEO Guy De Vreese said in a press release. "During the current and prior quarters, we have been including our retail Asian operations of approximately $2 million gross revenues as we are continuing to open spa locations in both Europe and Asia during our final quarter, as well as in the next fiscal year."
