Milestone Scientific saw growth in dental instrument and handpiece sales in 2011 domestically, but a decrease in sales internationally and during the fourth quarter of 2011 compared with 2010.
The company also saw a decrease in fourth-quarter profits and revenue, according to a press release.
Domestically, sales of dental instruments increased from $1.2 million in 2010 to $1.3 million in 2011, while sales of handpieces grew from $3.2 million to $3.3 million. Internationally, dental instrument and handpiece sales decreased by $1 million and $500,000, respectively.
Fourth-quarter 2011 revenue (end-December 31) was $1.7 million versus $2 million for the fourth quarter of 2010. 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. This shift resulted in lower instrument sales, partially offset by an increase in domestic handpiece sales due to higher usage rates among dentists.
Net loss for the fourth quarter of 2011 was $405,000, versus a loss of $295,000 for the same period in 2010.
