Milestone Scientific Reports Preliminary Sales Results for Q1 2021; Revenue Increases 61% Over the Same Period Last Year
May 03 2021 - 8:30AM
Milestone Scientific Inc. (NYSE: MLSS), a leading
developer of computerized drug delivery instruments that provide
painless and precise injections, today provided a business update
and announced preliminary financial results for the first quarter
of 2021.
Arjan Haverhals, President of Milestone
Scientific and CEO of Wand Dental Inc., stated, "I am pleased to
report that our revenue for the first quarter of 2021 increased
more than 61% to $2.9 million versus $1.8 million for the same
period last year. We also achieved a strong sequential increase in
sales of 32% versus the fourth quarter of 2020. Importantly, we
witnessed growth in both our domestic and international revenues.
We attribute this improvement to the success of our new dental
sales and marketing strategy. At the same time, we are beginning to
generate early revenue from the sale of our medical disposables,
which we believe represents a transformative growth opportunity for
our company.”
About Milestone Scientific
Inc.
Milestone Scientific Inc. (MLSS) is a biomedical
technology research and development company that patents, designs
and develops innovative diagnostic and therapeutic injection
technologies and instruments for medical, dental, cosmetic and
veterinary applications. Milestone's computer-controlled systems
are designed to make injections precise, efficient, and virtually
painless. Milestone’s proprietary DPS Dynamic Pressure Sensing
technology® is our technology platform that advances the
development of next-generation devices, regulating flow rate and
monitoring pressure from the tip of the needle, through platform
extensions for local anesthesia for subcutaneous drug delivery,
with specific applications for cosmetic botulinum toxin injections,
epidural space identification in regional anesthesia procedures and
intra-articular joint injections. For more information please visit
our website: www.milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking
statements regarding the timing and financial impact of Milestone's
ability to implement its business plan, expected revenues, timing
of regulatory approvals and future success. These statements
involve a number of risks and uncertainties and are based on
assumptions involving judgments with respect to future economic,
competitive and market conditions, future business decisions and
regulatory developments, all of which are difficult or impossible
to predict accurately and many of which are beyond Milestone's
control. Some of the important factors that could cause actual
results to differ materially from those indicated by the
forward-looking statements are general economic conditions, failure
to achieve expected revenue growth, changes in our operating
expenses, adverse patent rulings, FDA or legal developments,
competitive pressures, changes in customer and market requirements
and standards, and the risk factors detailed from time to time in
Milestone's periodic filings with the Securities and Exchange
Commission, including without limitation, Milestone's Annual Report
for the year ended December 31, 2020. The forward-looking
statements in this press release are based upon management's
reasonable belief as of the date hereof. Milestone undertakes no
obligation to revise or update publicly any forward-looking
statements for any reason.
Contact:David Waldman or
Natalya RudmanCrescendo Communications, LLCEmail:
mlss@crescendo-ir.comTel: 212-671-1020
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