American Dental Technologies announces 1994 results.TROY, Mich.--(BUSINESS WIRE)--March 31, 1995--American Dental Technologies (ADT (Asynchronous Data Transfer) A transmission technique used in ISDN PBXs that dynamically allocates bandwidth. See also abstract data type. ADT - abstract data type ) reported 1994 losses of $4,181,610 or 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . ADT's loss was $2.6 million less than 1993's $6,802,452 loss (79 cents per share) and $10.6 million less than 1992's $14,830,075 loss ($1.98 per share). The 1993 loss includes a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. $2 million litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. settlement expense. Sales revenues were $11,163,638 in 1994 compared to $10,681,294 in 1993 and $12,450,200 in 1992. In 1994, selling, general and administrative expenses were significantly reduced. PulseMaster(TM) laser sales were somewhat higher than in 1993, but were below management's expectations. KCP KCP Party of Communists of Kyrgyzstan KCP Khmer Citizen Party (Cambodia) KCP Kingston Computer Planet KCP knurling cup point (fasteners) KCP Kernel Control Path (R) sales were down in the last half of 1994 due to anticipated new product introduction but began improving in the fourth quarter. Although there can be no assurances, sales are expected to improve in 1995, primarily because of sales of the new KCP 1000 whisperjet. In early 1995, ADT received a $3,250,000 order for KCP and laser products from its Japanese Japanese (jăp'ənēz`), language of uncertain origin that is spoken by more than 125 million people, most of whom live in Japan. There are also many speakers of Japanese in the Ryukyu Islands, Korea, Taiwan, parts of the United States, and partner. ``Selling, general and administrative expenses are down from $19.2 million in 1992 to $8 million in 1994, and we remain committed to controlling costs,'' said Anthony D. Fiorillo, president and chief executive officer. ``In 1994, we invested approximately $1.2 million into our own research and development efforts. Our new products, the KCP 1000 whisperjet and PulseMaster 600 LE, have been well received and we are working to introduce some exciting new products in 1995, including a proprietary new curing light curing light Dentistry A special UV light used to attach brackets to the teeth for composites. We have solidified so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. several strategic business alliances and have strengthened our market position. We have patents that give us a competitive advantage in an embryonic em·bry·on·ic or em·bry·on·al adj. Of, relating to, or being an embryo. Embryonic In the life cycle of the round worm, a very early life stage occurring within the uterus of the female round worm. market. We are not a fully integrated company with our own manufacturing and research and development capabilities. While a significant amount of work remains, we have made major progress toward our goal of positioning ADT for the future.'' Condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. consolidated statements of operations and balance sheets are attached. American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Dental Technologies, headquartered in Troy, develops advanced technologies for dentistry dentistry, treatment and care of the teeth and associated oral structures. Dentistry is mainly concerned with tooth decay, disease of the supporting structures, such as the gums, and faulty positioning of the teeth. and markets them worldwide. It is listed on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. SmallCap Market under the symbol ADLI. -0- American Dental Technologies Inc. Condensed Consolidated Statements of Operations
Year Ended Year Ended Year Ended
12/31/94 12/31/93 12/31/92
---------- ---------- ----------
Revenues $11,163,368 $10,681,294 $12,450,200
Cost of products
sold 6,519,810 6,123,967 7,728,576
----------- ----------- -----------
Gross profit 4,643,828 4,557,327 4,721,624
Litigation
settlement expense 2,000,000
Operating expenses 9,154,099 9,588,161 19,749,442
----------- ----------- -----------
Loss from
operations (4,510,271) (7,030,834) (15,027,818)
Other income (net
of interest
expense) 328,661 228,382 197,743
----------- ----------- -----------
Net loss $(4,181,610) $(6,802,452) $(14,830,075)
----------- ----------- -----------
Net loss per
share - primary $(.31) $(.79) $(1.98)
Weighted average number of common and common equivalent shares 13,462,803 8,566,844 7,487,616 American Dental Technologies Inc. Condensed Consolidated Balance Sheets
12/31/94 12/31/93
---------- ----------
Assets
Current assets:
Cash $ 839,259 $ 1,696,009
Accounts receivable 2,228,466 1,286,122
Inventories 1,390,668 1,781,239
Other current assets 470,543 212,120
---------- ----------
Total current assets 4,928,936 4,975,490
Notes receivable from
related parties
Property and equipment, net 699,334 1,413,885
Intangible assets, net 5,509,268 5,981,873
----------- -----------
Total assets $11,137,538 $12,371,248
----------- -----------
Liabilities and Stockholders Equity
Current liabilities
Note payable to related party $ 200,000
Accounts payable 2,968,966 $ 2,788,565
Accrued liabilities 1,747,466 2,507,505
----------- -----------
Total current liabilities 4,916,432 5,296,070
Deferred royalty income and other
non-current liabilities 4,030,268 3,413,643
Stockholders equity 2,190,838 3,661,535
----------- -----------
Total liabilities and stockholders
equity $11,137,538 $12,371,248
----------- -----------
----------- -----------
CONTACT: American Dental Technologies Inc., Troy Diane Miller Diane Miller is a fictional character on the ABC soap opera, General Hospital. She has been portrayed by Carolyn Hennesy since January 3, 2007. Character history Diane was introduced as the new attorney of Port Charles mobster Sonny Corinthos. , 810/637-3714 |
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