LIVINGSTON, N.J., March 31 /PRNewswire-FirstCall/ -- Milestone Scientific, Inc. , the recognized leader in advanced injection technologies, today reported its operational and financial results for its 2007 fiscal year, ended December 31, 2007.
Joe W. Martin, Chief Executive Officer of Milestone, stated, "Looking ahead, our focus in 2008 will be largely centered on increasing sales of the STA System, both domestically and internationally, as well as supporting sales of our legacy CCLAD system, CompuDent, and driving recurring orders of the disposable hand pieces used in conjunction with both instruments. The challenge going forward will be leveraging creative and tactical advertising and proactive marketing strategies to spread the 'right' message about the STA System to each and every dentist."
Continuing, Martin added, "Worldwide, we estimate that over 35 million dental injections have been administered to patients with either the STA or CompuDent systems, to date. Moreover, our patented CompuFlo technology, embedded in the STA System, has been the subject of more than 50 publications validating the efficacy and safety of the technology in a wide range of medical injection applications. In 2008, we will accelerate our pursuit of collaborative opportunities with medical, pharmaceutical and healthcare companies interested in developing new product applications using CompuFlo, in order to build and grow long term shareholder value in Milestone."
"Although there is still a lot of work to do, I believe that Milestone is well positioned to begin demonstrating much improved sales growth from our existing product line as our new marketing messages take hold and our market penetration efforts gain greater traction. Moreover, our results-driven game plan for leveraging CompuFlo to introduce innovative new products to the medical industry should provide us with ample opportunities to seek truly dynamic growth in the future," concluded Martin.
The Company will host a teleconference on Tuesday, April 1, 2008, beginning at 9:30 AM Eastern Daylight Time, and invites all interested parties to join management in a discussion regarding the Company's financial performance, corporate progress and other meaningful developments. The conference call can be accessed by dialing toll-free 800-257-7087. For those unable to participate at that time, a replay of the teleconference can be accessed domestically by dialing 800-405-2236 and enter the passcode 11111518#. The replay will be available for 90 days.
About Milestone Scientific, Inc.
Headquartered in Livingston, New Jersey, Milestone Scientific is engaged in pioneering proprietary, highly innovative technological solutions for the medical and dental markets. Central to the Company's IP platform and product development strategy is its patented CompuFlo(R) technology for the improved and painless delivery of local anesthetic. Specifically, CompuFlo is a computer-controlled, pressure sensitive infusion, perfusion, suffusion and aspiration technology, which provides real-time readouts of pressures, fluid densities and flow rates, enabling the advanced delivery and removal of a wide array of fluids. The award-winning STA(TM) System is a patented Computer- Controlled Local Anesthesia Delivery (CCLAD) system which uses this technology and provides dentists with audible and visual signals as to in-tissue pressure. Milestone's existing painless injection systems are currently sold in 25 countries. For more information on these and other innovative Milestone products, please visit the Company's web site found at www.milesci.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of the Milestone's ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report on Form 10-KSB for the year ended December 31, 2007. The forward looking-statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
mlss@efcg.net
CONTACT: Dodi Handy, President and CEO, or Daniel Conway, Chief
Strategist, both of Elite Financial Communications Group, LLC,
+1-407-585-1080, mlss@efcg.net
Web site: http://www.milesci.com/
