Milestone Scientific Inc. (NYSE:MLSS) the stock changed -3.26% to recent value of $0.3322. The stock transacted 52,307 shares during most recent day however it has an average volume of 377,957 shares. The company has 40.82M of outstanding shares and 13.561M shares were floated in the market. The short ratio in the company’s stock is documented at 0.56 and the short float is around of 0.84%.
Milestone Scientific Inc. (MLSS) recently provided a business update and reported financial results for the three months and year ended December 31, 2018.
”In February, we completed a $2.0M public offering, plus a $250,000 private placement by an entity associated with Gian Domenico Trombetta, a Director of Milestone Scientific and Chief Executive Officer and Director of Wand Dental Inc., a wholly-owned subsidiary of Milestone Scientific. His investment, coupled with my own participation in the public offering, further illustrate both the board and management’s confidence in outlook for the business.”
For the three months ended December 31, 2018 and 2017, revenues
were about $3.8M and $2.2M, respectively. Total revenue raised by about $1.6M,
or 70%, which was due in part to a re-stocking order from Henry Schein, which
was received and shipped in fourth quarter 2018 and the realization of deferred
revenues associated with sales to Milestone China and its agents.
The gross profit for the fourth quarter ended December 31, 2018 was $1.9M, or 50% of revenue, versus $1.2M, or 55% of revenue for the year ended December 31, 2017. The decline in gross margin was related to inventory reserves and an allowance for sales related to Milestone China.
For the years ended December 31, 2018 and 2017,
revenues were about $9.6M and $11.3M, respectively. Dental revenues reduced by
about $1.8M, which was principally related to reduced devices and handpiece
sales in the United States and Canada by about $541,000 in 2018 and a decrease
in international sales in 2018 by about $1.2MBecause of a reduction in
shipments to Milestone China. The reduction in shipments to Milestone China is Because
of Milestone China working through inventory purchases from 2017 and the
modification to their business strategy to better serve the China dental
market. Domestic inventory purchases by Henry Schein have been reduced Because
of a lower target inventory model within Henry Schein. Medical revenue for the
twelve months ended December 31, 2018 was about $120,000 versus $2,000 for the
year ended December 31, 2017.
Gross profit for the year ended December 31, 2018 was $4.4M, or 46% of revenue, versus $6.9M, or 62% of revenue for the year ended December 31, 2017. Gross profit for the year ended December 31, 2018 included a reserve of about $309,000 for hand pieces and reserve of $1.2M for the deferred cost of handpieces and devices sold to Milestone China Ltd.
(NYSE:MLSS) stock as of last trading session moved 27.77% up from its 52 week low and was -69.44% behind its 52 week high. Milestone Scientific Inc. switched up -0.33% 20-Days Simple Moving Average, dropped -9.49% from 50-Days Simple Moving Average and fell -27.81% from 200 Days Simple Moving Average.
Allison Hickman –Health and Biotech
My name is Allison Hickman, and I am the mainstream behind the”dailynewsme.com” for the powerful and most delicate insights into the latest activities in the Investing category. I started my journey as an independent financial consultant. I had approximately 6 years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.
Address: 4427 Irish Lane
Madison, WI 53704, United States of America
Phone Number: +1 608 770 1673