Remedent's second quarter sales decreased 36% to $1.8 million from $2.8 million in the same quarter a year ago, the company reported.
Net loss for the second quarter (end-Sept. 30) totaled $839,000, compared to a net loss of $4.7 million or in the same quarter last year.
Remedent attributed the loss to its planned U.S. reorganization. The loss also included a charge of $160,000 for warrants issued during the quarter.
"This quarter followed a transitional quarter when we took more control over our future by establishing a new worldwide production facility in China," said Guy De Vreese, CEO of Remedent, in a press release. "Our goal has been to prepare for increasing demand and improve margins, but still maintain or even improve the quality of our dental veneers. We achieved this in the second quarter and are now able to deliver veneers at exceptional thinness and durability, which are second to none in the industry. We have brought this new facility up to speed and are producing timely shipments with higher capacity."
On November 19, Remedent will unveil a new corporate Web site featuring its latest dental technologies. This includes GlamStrip for the single-motion application of dental veneers, and FirstFit, a new solution for dental bridges and crowns. The interactive Web site will feature new before and after images as well as videos, the company noted.
