Milestone Scientific revenues up, losses down in 2010

Milestone Scientific reported revenues of $9.75 million for 2010 (end-December 31, 2010), up 14% from $8.55 million in the previous year.

Sales in the U.S. decreased 16% from $5.28 million to $4.53 million, while international sales increased 65% from $3.17 million to $5.22 million.

Net loss for the year decreased to $615,000, compared with a net loss of $1.5 million for 2009.

"2010 can be classified as a defining year of change for the company," said Leonard Osser, CEO of Milestone Scientific. "Not only did we reduce the yearly loss significantly, but we have established a building block for growth."

The only low spot for 2010 was the delay in obtaining regulatory approval to sell the company's instruments and handpieces in China, he added. Milestone expects to gain that approval in 2011.

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