Milestone Scientific reported revenues of $2.43 million for the first quarter of 2011 (end-March 31), a 5% decrease from revenues of $2.56 million for the same quarter in 2010.
Net loss for the quarter was $141,644, compared with a net profit of $83,922 for the same period in 2010. The decrease in net profit was due primarily to lower international handpiece sales in the first quarter of 2011, resulting from a delay in obtaining registration of the company's Wand/Single Tooth Anesthesia (STA) instrument and handpieces for the sale of these products in China, Milestone said.
While sales in the U.S. increased 9% to $1.31 million in the quarter, international sales fell $18% to 1.1 million, the company noted. Instrument sales jumped 35% to $811,000 from $600,000, while sales of disposable handpieces fell 18% to $1.58 million from $1.94 million.
