AMERICAN DENTAL LASER REPORTS LOSS IN FIRST QUARTER
AMERICAN DENTAL LASER REPORTS LOSS IN FIRST QUARTER TROY, Mich., April 28 /PRNewswire/ -- American Dental Laser, Inc.
(NASDAQ: ADLI) today reported revenues of $4.7 million and a net loss of approximately $2.4 million, or 34 cents a share, for the three-month period ended March 31, 1992.
The company's revenues in the first quarter of 1991 were $8.2 million with net income of $1.3 million, or 21 cents a share. As of March 31, 1992, the company's cash balance was $2.6 million and net worth was $12 million. "Unfortunately, we came out where we predicted," said Daniel S. Goldsmith, ADL president and chief executive officer. "The market for our products is reflecting the general weakness in the economy, as well as aggressive competition and a good deal of confusion about laser dentistry. We are streamlining the company, reducing expenses, addressing the competition and confusion, and selling energetically. These efforts are expected to improve sales and financial results in the coming quarters. In the second quarter, however, we also expect a loss." The company announced Monday that it has placed a $2.5 million order for a new instrument that uses kinetic energy to remove tooth decay and prepare teeth for fillings. The company hopes the instrument, the KCP 2000, will replace the dental drill in many procedures and provide a superior, gentler form of treating cavities. The company previewed the instrument at a major dental show in Europe this month and reported positive reaction from the dental community. It expects to complete product modifications, comply with government regulations in some of its markets, and deliver the first units to dentists in the second half of the year. American Dental Laser, headquartered in Troy, develops high- technology products for dentistry and markets them worldwide. The company's stock is traded on NASDAQ under the symbol ADLI. -0- 4/28/92 R /CONTACT: Eric Fris, chief financial officer, American Dental Laser, 313-637-3713/ (ADLI) CO: American Dental Laser, Inc. ST: Michigan IN: MTC SU: ERN
GK -- DE034R -- 4240 04/29/92 09:58 EDT
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|Date:||Apr 29, 1992|
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