American Dental reports significant increases in first quarter sales and net income.SOUTHFIELD, Mich.--(BUSINESS WIRE)--May 6, 1996--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 ") today reported that the company had 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 of $5,254,047, an increase of 20 percent over net sales of $4,392,000 for the first quarter of 1995. The company had a net income of $448,310, or 3 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 first quarter of 1996, compared to a net income of $176,196, or 1 cent per share, for 1995's first quarter. Revenues and gross profit increased due to higher sales volumes. "We are pleased by these results," said Anthony D. Fiorillo, 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. . "ADT continues to be the leader in the highly competitive and emerging advanced technology dental market. Sales improved in all our major markets this quarter. Although there can be no assurances, this first quarter improvement in sales is consistent with our expectation that sales in 1996 will be higher than in 1995. Completion of the merger with Texas Airsonics Inc. should help to improve our margins and will complete the integration of our two major product lines." ADT's innovative products, the 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 1000, the KCP 1000 PAC and the PulseMaster line of dental lasers 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 , are recognized leaders in the advanced technology dental market. The KCP works like a miniature precision 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. 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. American Dental Technologies, headquartered in Southfield, 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 SmallCap Market under the symbol ADLI. Fiorillo's statements 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 failure of distributors to meet purchase commitments, the loss of distributor relationships, the failure to receive necessary regulatory approvals, the negative effects of competition on prices and sales volumes, ADT's ability to successfully integrate Texas Air's business with ADT's and ADT's ability to retain key personnel following the merger. Completion of the merger with Texas Air is subject to customary conditions, including without limitation, stockholder approvals. Unaudited 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 Statement of Operations
(Unaudited)
Three Months Three Months
Ended 3/31/96 Ended 3/31/95
_____________ _____________
Net sales $5,254,047 $4,392,000
Cost of sales 2,855,426 2,207,373
_____________ _____________
Gross profit 2,398,621 2,184,627
Operating expenses:
Selling, general & administrative 1,669,058 1,925,058
Research and development 234,350 249,406
_____________ _____________
Income from operations 495,213 10,163
Other income (expense):
Royalty - related party 171,000
Royalty - other 17,875
Other (4,640)
Interest expense (42,263) (22,842)
_____________ _____________
Net income $ 448,310 $ 176,196
Weighted average number of common and common equivalent shares 17,258,826 14,716,579 Net income per share $.03 $.01 CONTACT: American Dental Technologies, Southfield 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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