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Searching for charts, which still show momentum I found this one. It also has interesting fundamentals which I include: BW1070 MAY 06,1996 5:27 PACIFIC 08:27 EASTERN ( BW)(AMERICAN-DENTAL-TECH)(ADLI) American Dental reports significant increases in first quarter sales and net income Business Editors SOUTHFIELD, Mich.--(BUSINESS WIRE)--May 6, 1996--American Dental Technologies Inc. ("ADT") today reported that the company had net sales 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, 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. "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 1000, the KCP 1000 PAC and the PulseMaster line of dental lasers, are recognized leaders in the advanced technology dental market. The KCP works like a miniature precision sandblaster 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 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 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 consolidated statements of operations are attached. -0- *T 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 *T --30--dsl/clv* CONTACT: American Dental Technologies, Southfield Diane Miller, 810/353-5300 KEYWORD: MICHIGAN INDUSTRY KEYWORD: MEDICINE BIOTECHNOLOGY COMPUTERS/ELECTRONICS COMED EARNINGS REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-236-4266 or 800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473 BW URL: businesswire.com | ||||||||||||||
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