Milestone Scientific reports Q3 EPS (2c) vs (3c) last year

Reports Q3 revenue $2.06M vs $2.216M last year. Arjan Haverhals, CEO and President of Milestone Scientific, stated, “We achieved solid revenues of $2.1 million for the third quarter of 2023. Most notably, domestic dental sales increased 45%, due in part to the success of our direct sales model through the new portal for selling and shipping the STA Single Tooth Anesthesia System(R) and handpieces. This strategy has provided us a closer and more direct relationship with our customers, which has exceeded our expectations thus far. The new direct selling model has also resulted in an increase in gross profit for the third quarter of 2023. We achieved this growth despite a small sales force, as we are focused on maximizing profitability with a streamlined operating structure. Given the domestic traction, we are now increasing our focus on expanding our penetration within international markets. While sales to international distributors can be uneven due to the timing and size of orders, we expect our international sales to resume growth. We also look forward to announcing the addition of new international partners, which should support our global expansion strategy over the coming quarters.”