LIVINGSTON, New Jersey--Milestone Scientific, Inc., a leader in advanced injection technologies, has reported operational and financial results for its 2007 fiscal year, ending Dec. 31, 2007.
Key operational highlights include:
* In February 2007, the STA System was formally unveiled to market at the 142nd Chicago Dental Society Midwinter Meeting, one of the largest dental trade events held annually in the United States. The STA System is a patented Computer Controlled Local Anesthesia Delivery system that incorporates the "pressure feedback" elements of Milestone's patented CompuFlo technology.
* In June 2007, the company was granted a CE Mark approval of the STA System, giving Milestone the ability to begin marketing the instrument to dental professionals in European Union countries and other countries around the world that recognize the CE Mark approval process.
* In November 2007, Milestone entered into a collaborative agreement with a globally diversified healthcare company to conduct a feasibility study evaluating the potential application of the company's patented CompuFlo technology for injecting certain medicaments produced by this company. The initial study has been completed and Milestone is now anticipating moving forward with this company.
* Milestone's management team underwent significant change and rejuvenation in 2007. In May, the company welcomed Joe W. Martin to its team as Chief Executive Officer of the newly formed Medical Division. Then in December, when Leonard Osser, Milestone's Chairman and CEO stepped down from the chief executive post, Joe was appointed as a new member of the Board of Directors and was named Milestone's new CEO. In addition, in the fall, Robert (Bob) Presutti joined Milestone as VP of Sales and Marketing, assuming the overall coordination, functional management and leadership of all sales, marketing and customer service activities of the Company. Subsequent to the end of 2007, Joseph D'Agostino joined Milestone as the new Acting Chief Financial Officer, replacing former Acting CFO Arthur Goldberg, who left the Company to pursue other career opportunities.
The company will host a teleconference April 1, 2008, beginning at 9:30 a.m. (EDT), and invites all interested parties to join management in a discussion regarding the company's financial performance, corporate progress and other meaningful developments.
The conference call can be accessed by dialing toll-free (800) 257-7087. For those unable to participate at that time, a replay of the teleconference can be accessed domestically by dialing (800) 405-2236 and enter the passcode 11111518#. The replay will be available for 90 days.
For more information on these and other innovative Milestone products, please visit the Company's web site found at Milestone Scientific.
To read more about Milestone Scientific, go to Milestone Scientific.