American Dental Technologies reports profitable third quarter.SOUTHFIELD, Mich.--(BUSINESS WIRE)--Nov. 12, 1996--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 ) today reported a profitable third quarter. ADT had revenues of $4,046,803, an increase of 77 percent over $2,286,035 for the third quarter of 1995. For the nine months ended Sept. 30, 1996, revenues were $14,220,805, an increase of 40 percent over the $10,138,871 reported in 1995. ADT had net profit of $748,999, or 2 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. , for the three months ended Sept. 30, 1996, compared to a loss of $954,332, or 6 cents per share for 1995's third quarter. Net profit was $1,887,250, or 8 cents per share for the nine months ended Sept. 30, 1996, compared to a net loss of $576,068, or 4 cents per share for 1995. "We are very pleased with these results," said Ben Gallant, president and COO. "Revenues increased primarily due to increased sales of our 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 air abrasive dental treatment systems. Profits increased primarily due to cost sharing with Texas Airsonics Inc. before the merger, and the company's continuing efforts to reduce selling and general expenses in relation to revenues." ADT's innovative products, the KCP 10, the KCP 100, the KCP 1000, the KCP 1000 PAC and the PulseMaster line of dental lasers, are recognized leaders in the dental high technology market. The KCP works like a miniature sandblaster sand·blast n. 1. a. A blast of air or steam carrying sand at high velocity to etch glass or to clean stone or metal surfaces. b. A machine used to apply such a blast. 2. spraying away decay, usually without a need for anesthesia. The PAC utilizes a high intensity light source to rapidly cure composite fillings and accelerate light-activated tooth bleaching Tooth bleaching, also known as tooth whitening, is a common procedure in general dentistry but most especially in the field of cosmetic dentistry. Many people consider white teeth to be an attractive feature of a smile. materials. PulseMaster lasers allow dentists to treat gum disease gum disease Dentistry Gingival disease, often in the form of gingivitis and bone loss 2º to toxins produced by bacteria in plaque accumulating along the gum line Clinical Early–painless bleeding; pain appears with advanced GD as bone loss around the and perform other procedures with little or no bleeding and less need for anesthesia. Headquartered in Southfield, American Dental Technologies develops and manufactures 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 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 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 are attached. -0-
American Dental Technologies Inc.
Condensed Consolidated Statements of Operations (Unaudited)
Three Months Three Months Nine Months Nine Months
Ended 9/30/96 Ended 9/30/95 Ended 9/30/96 Ended 9/30/95
______________ _____________ _____________ _____________
Revenues $ 4,046,803 $2,286,035 $14,220,805 $ 10,138,871
Cost of
sales 2,239,963 1,266,038 8,160,367 5,034,082
___________ __________ ___________ ____________
Gross
profit 1,806,840 1,019,997 6,060,438 5,104,789
Operating
expenses 1,082,829 1,958,660 4,121,220 5,904,774
___________ __________ ___________ ____________
Income (loss)
from
operations 724,011 (938,663) 1,939,218 (799,985)
Other income
(expense) 24,988 (15,669) (51,968) 223,917
___________ ___________ ____________ ____________
Net income
(loss) $ 748,999 $ (954,332) $ 1,887,250 $ (576,068)
___________ ___________ ___________ _____________
___________ ___________ ___________ _____________
Net income
(loss) per
share $0.02 $(0.06) $0.08 $(0.04)
___________ ___________ ___________ _____________
___________ ___________ ___________ _____________
Weighted
average
number of
common and
common
equivalent
shares 30,537,615 15,968,793 23,228,550 15,243,512
___________ __________ ___________ ____________
___________ __________ ___________ ____________
CONTACT: American Dental Technologies Inc. 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. , 810/353-5300 |
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