American Dental reports increased first quarter net income, gross margins and sales.SOUTHFIELD, Mich.--(BW HealthWire)--April 30, 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 :ADLI) reported a net income of $886,274, or a 98 percent increase over a $448,310 net income in 1996's first quarter. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were $5,513,864 for the quarter ended March 31, 1997, an increase of 5 percent over net sales of $5,254,047 for the first quarter of 1996. Revenues and gross profit increased primarily due to a 186 percent increase in 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 sales volumes in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . International KCP sales and dental laser A dental laser is a type of laser designed specifically for use in oral surgery. In the United States, the use of lasers on the gums was first approved by the Food and Drug Administration in the early 1990s, and use on hard tissue like teeth or the bone of the mandible gained sales volumes were down from last year's first quarter due to dealer inventory adjustments. Gross profit as a percentage of net sales was 56 percent for the first quarter of 1997 compared to 46 percent for the same period in 1996. Gross margins improved due to the addition of manufacturing margins through ADT's acquisition of Texas Airsonics Inc. on July 31, 1996. "These results reflect the benefits of the merger and our continuing cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. efforts," said Ben J. Gallant, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "These increases are in line with our expectations and I am optimistic about our prospects for this year. I am pleased that acceptance of our KCP products is continuing to grow in the United States. Recent regulatory clearances for some beneficial and clinically significant uses of our dental lasers have provided us an exciting marketing opportunity that we hope will help increase dental laser sales. Although there can be no assurances, we anticipate that 1997 sales will be higher than in 1996." 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 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. Gallant's statements concerning the company's business prospects for 1997 and efforts to improve sales, 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 acceptance, the failure of distributors to meet purchase commitments, the loss of distributor relationships, the failure to receive or maintain necessary regulatory approvals, the negative effects of competition on prices and sales volumes, the ability to successfully integrate KCP and laser manufacturing and the ability to retain key personnel. Headquartered in Southfield, and Corpus Christi, Texas Corpus Christi is a coastal city and the county seat of Nueces CountyGR6 in the U.S. state of Texas. It is part of the region known as South Texas. , American 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 balance sheets are attached. -0-
American Dental Technologies Inc.
Condensed Consolidated Statement of Operations
(Unaudited)
Three Months Three Months
Ended 3/31/97 Ended 3/31/96
Net sales $5,513,864 $5,254,047
Cost of sales 2,431,062 2,855,426
__________ __________
Gross profit 3,082,802 2,398,621
Operating expenses:
Selling, general & administrative 2,076,185 1,673,698
Research and development 115,129 234,350
__________ __________
Income from operations 891,488 490,573
Other income (expense):
Royalty income 12,967
Interest expense (18,181) (42,263)
__________ __________
Net income $ 886,274 $ 448,310
Weighted average number of common
and common equivalent shares 7,708,707 4,314,705
Net income per share $.12 $.10
CONTACT: American Dental Technologies, Southfield Diane Miller, 810/353-5300 |
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