Remedent Reports First Quarter Results and to Host Conference Call on August 18, 2011
(firmenpresse) - GHENT, BELGIUM -- (Marketwire) -- 08/15/11 -- Remedent, Inc. (OTCBB: REMI), an international company specializing in research, development, and manufacturing of oral care and cosmetic dentistry products, reported results for the first quarter ended June 30, 2011 (in US Dollars).
Net sales for the three months ended June 30, 2011 decreased 13% to $3 million compared to $3.4 million for the same year ago quarter. Net loss for the three months ended June 30, 2011 prior to taxes and non-controlling interests was $75k compared to net profit of $567k for the same year ago quarter.
Cash and cash equivalents totaled approximately $3 million at June 30, 2011 compared to $1.6 million reported at March 31, 2011.
y:
"Our investment in our Chinese operations continues to exceed all our expectations. For the three months ended June 30, 2011, Glamsmile Asia generated $900k in revenues and approximately $400k in profits for the first quarter prior to taxes and outside shareholders interest. This is a 50% increase in revenue for the same year ago quarter. We anticipate further growth in China and a new fourth studio is expected to open in Wenzhou, China in September, 2011. We are certainly looking forward to getting Glamsmile Asia positioned as one of the leading luxury brands in China as well as the other emerging markets," said Guy De Vreese, CEO of Remedent, Inc.
Remedent will host a conference call on Thursday, August 18, 2011 at 11:00 AM Eastern Standard Time (8:00 AM Pacific Standard Time) to discuss these results. A question and answer session will follow management's presentation. To participate in the call, dial the appropriate number 5-10 minutes before the start time.
Date: Thursday, August 18, 2011
Time: 11:00 AM Eastern time (8:00 AM Pacific time)
Dial in number: 888-233-7975
Pass code: 8070349
A telephone replay of the call will be available until August 31, 2011
Toll Free Replay Number: 888-203-1112
Replay Password: 8070349
Remedent, Inc. specializes in the research, development and marketing of oral care and cosmetic dentistry products. The company serves the professional dental industry with breakthrough technology for dental veneers. These products are supported by a line of professional veneer whitening and tooth sensitivity solutions. Headquartered in Belgium, Remedent distributes its products to more than 35 countries worldwide. For more information, go to
Statements in this press release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Remedent's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," "projects," "project," to be uncertain and forward-looking. Actual results could differ materially because of factors such as Remedent's ability to achieve the synergies and value creation contemplated by the proposed transaction. For further information regarding risks and uncertainties associated with Remedent's business, please refer to the risk factors described in Remedent's filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. We undertake no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
CONTACT:
Stephen Ross
310 922 5685
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Datum: 15.08.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 1030583
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