Milestone Scientific announces preliminary fourth quarter, 2009 year-end results

    Feb. 22, 2010
    Results are as of Dec. 31, 2009.

    PISCATAWAY, New Jersey--Milestone Scientific, a leader in advanced, computer-controlled injection technologies, has announced preliminary results for the three and 12 months ended Dec. 31, 2009.

    The company expects to report full-year revenues between $8.4 and $8.5 million. These results will compare to revenues of $6.6 million reported for 2008.

    Revenues for the three months ended Dec. 31, 2009, are expected to exceed $2.2 million, which will compare to $1.85 million reported for the same three month reporting period in 2008.

    Milestone's results are also expected to reflect material strengthening of its balance sheet due to the recent conversion of $1.3 million in debt to equity at $1.58 per share. The company anticipates confirming that it achieved certain financial objectives related to enhancing its cash position.

    "We are very pleased with our performance in the fourth quarter, particularly in view of the fact that we were not able to benefit from shipment of an approximate $450,000 order for STA handpieces prior to year-end," noted Leonard Osser, Milestone's Chief Executive Officer.

    "With that shipment now processed and STA unit and related handpiece sales showing strength, 2010 is off to a very good start and shows promise to be an exciting growth year for Milestone."

    The company expects to report its audited 2009 financial results on or before March 31, 2010, and will host a conference call to discuss the results and other corporate developments at that time.

    For more information on the STA System and other innovative Milestone products, visit the company's Web sites at Milestone Scientific and Milestone Scientific.

    To read more about Milestone Scientific, go to Milestone Scientific.

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