Milestone Scientific Projects Revenue to Increase Over 85% to More than $10 Million for 2021
Milestone Scientific (NYSE: MLSS) reports anticipated revenues over $2.6 million for Q4 2021, up from $2.2 million in Q4 2020, and over $10 million for FY 2021, a significant increase from $5.4 million in FY 2020. CEO Arjan Haverhals highlights growth in dental and medical divisions, with successful marketing efforts and new distributors contributing to an 85% revenue increase. The company expresses confidence in its future, citing a strong balance sheet and a substantial market opportunity in the U.S. for epidural analgesia, estimated at over $5 billion annually.
- Anticipated revenue over $2.6 million for Q4 2021, an increase from $2.2 million in Q4 2020.
- Projected full-year revenue exceeding $10 million for FY 2021, a significant rise from $5.4 million in FY 2020.
- 85% revenue growth attributed to successful sales and marketing in dental and medical divisions.
- No plans to raise capital, indicating a solid financial position.
- Significant market opportunity in the U.S. for epidural procedures, valued over $5 billion annually.
- None.
ROSELAND, N.J., Jan. 10, 2022 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments, that provide virtually painless and precise injections, today provided revenue guidance for the fourth quarter and year ended December 31, 2021. The Company anticipates revenue of over
Arjan Haverhals, CEO and president of Milestone Scientific, stated, “We continue to gain traction in both our dental and medical divisions. Specifically, we anticipate revenue for the full year will increase more than
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS), a technology focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical, dental and cosmetic applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit 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 Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020
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