May 4th Company Press Release
SOURCE: Lancer Orthodontics, Inc.
Lancer Orthodontics Announces Unaudited Financial Results for First Month of Fourth Quarter
SAN MARCOS, Calif., May 4 /PRNewswire/ -- Lancer Orthodontics, Inc. (Nasdaq: LANZ - news) announced today unaudited financial results for the first month of the fourth quarter of the current fiscal year. Profits for the month were $41,300. Sales for the month totaled $535,800, bringing total year-to-date sales for Lancer Orthodontics to $4.9 million, an increase of $12,000 over the previous fiscal year through 10 months.
Domestic sales for the year through the first 10 months are up $25,400 while international sales are down $13,000. International sales have been impacted not only by the Asian economic crisis but also by an adverse economic situation in Brazil and recently introduced orthodontic insurance adjustments in Germany. These international conditions, however, appear to be improving.
''Lancer Orthodontics will participate this month in the major orthodontic convention to be held this year in San Diego,'' said Doug Miller, Lancer Orthodontics President. ''Lancer is looking forward to additional, incremental international sales from this meeting and to discussing with distributors its new amalgam products.''
The investment banking company Donner Corp. International recently issued a Speculative Buy Recommendation on the Company. It cited as one reason the book value of Lancer Orthodontics, which at the end of the third quarter of the current fiscal year (unaudited) is $1.57 per share.
Lancer Orthodontics (Nasdaq: LANZ - news) develops, manufactures and markets state-of-the-art orthodontic products such as bands, brackets and buccal tubes worldwide. It is the only freestanding public company in the field of orthodontic manufacturing.
SOURCE: Lancer Orthodontics, Inc.
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