LED Medical Diagnostics, the parent company of LED Dental, saw its 2013 first-quarter (end-March 31) revenues decline significantly year-over-year due to a shift in its exclusive distribution partnerships.
Revenue for the quarter decreased by 69% to $310,000, compared with $1.0 million from the same period in the prior year. The company reported a net loss of approximately $1.33 million for the quarter, compared with a net loss of $1.25 million for the same quarter a year ago.
A shift in LED's exclusive distribution alliance from Henry Schein to DenMat Holdings in late 2012 caused a "temporary disruption" to the company's activities in the marketplace in early 2013, according to Peter Whitehead, LED founder and CEO.
LED Medical manufactures and markets the VELScope Vx oral screening system for oral tissue abnormalities, including oral cancer.