American Dental Technologies reports 1996 is profitable.SOUTHFIELD, Mich.--(BUSINESS WIRE)--March 3, 1997--American Dental Technologies Inc. ("ADT (Asynchronous Data Transfer) A transmission technique used in ISDN PBXs that dynamically allocates bandwidth. See also abstract data type. ADT - abstract data type ") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on SmallCap:ADLI) reported a net profit for 1996 of $5,628,786 or 22 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. , compared to a net loss in 1995 of $1,274,166, or 8 cents per share. The 1996 net profit includes a one time benefit of $2,700,000 of related party royalty income. Income from operations was $3,004,096 for 1996, compared to a loss from operations in 1995 of $1,455,557. Revenues in 1996 were $20,474,976, up 54 pexas Airsonics was completed at the end of July 1996 and we recently consolidated the California laser manufacturing operations with our Texas manufacturing facility. re recognized leaders in the dental high technolts concerning the company's business prospects for 1997 and efforts to improve margins are "forward looking statements" within the meaning of the Securities Exchange Act of 1934 and are subject to uncertainties. Such uncertainties include, without limitation, the lack of product n Dental Technologies develops and manufactures advanced technologies for dentistry and markets them worldwide. It is listed on the Nasdaq SmallCap Market under the symbol ADLI. 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 b___ ___________ Gross profit 10,019,188 6,286,606 4,643,828 Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. 5,628,786 $(1,274,166) $(4,181,610) ___________ ___________ ___________ ,716 13,462,803 American Dental Technologies Inc. Condensed Consolidated Balance Sheets ____ ____ Assets Current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. : urrent assets 537,283 534,074 ___________ ___________ Total current assets 9,047,992 6,049,941 Other 1,635,267 Property and equipment, net 1,192,454 262,042 Intangible assets, net 10,707,106 5,037,446 Investment in joint venture 333,334 ___________ ___________ Total assets $21,280,886 $12,984,696 ___________ ___________ ___________ ___________ Liabilities and Stockholders Equity Current liabiliti______ Total current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. 3,8 ___________ ___________ Total________ CONTACT: American Dental Technologies, Southfield on the Internet with Hyperlinks to your home page. URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com |
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