Bucking the recent downward trend in revenues being experienced by many dental product companies, Remedent reported a record $4.8 million in net sales for the third quarter of 2009 (end-December 31), a 127% increase over the same quarter a year ago.
Income from operations was a loss of $467,000, compared to a loss of $1.1 million in the same period a year ago, the company stated in a press release. The loss includes $300,000 in nonrecurring one-time charges, as well as $200,000 in losses attributed to the OTC division in the third quarter.
Near the end of the third quarter, Remedent reported the restructuring of its OTC retail division, after which the company sold approximately half of the business for 4.7 million euros ($6 million), including a cash payment of approximately 1 million euros ($1.4 million).
Remedent said the divestiture will allow the company to focus on its core professional cosmetic dentistry business.
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