Milestone Scientific Announces Preliminary Fourth Quarter and 2009 Year-End Results

PISCATAWAY, N.J., Feb. 22 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. (OTC Bulletin Board: MLSS), the recognized leader in advanced, computer-controlled injection technologies, today announced preliminary results for the three and 12 months ended December 31, 2009.

The Company expects to report full year revenues between $8.4 million and $8.5 million.  These results will compare to revenues of $6.6 million reported for 2008.  Revenues for the three months ended December 31, 2009 are expected to exceed $2.2 million, which will compare to $1.85 million reported for the same three month reporting period in 2008.  Milestone's results are also expected to reflect material strengthening of its balance sheet due to the recent conversion of $1.3 million in debt to equity at $1.58 per share.  The Company also anticipates confirming that it achieved certain financial objectives related to enhancing its cash position.

"We are very pleased with our performance in the fourth quarter, particularly in view of the fact that we were not able to benefit from shipment of an approximate $450,000 order for STA handpieces prior to year end," noted Leonard Osser, Milestone's Chief Executive Officer.  "With that shipment now processed and STA unit and related handpiece sales showing strength, 2010 is off to a very good start and shows promise to be an exciting growth year for Milestone."    

The Company expects to report its audited 2009 financial results on or before March 31, 2010, and will host a conference call to discuss the results and other corporate developments at that time.

About Milestone Scientific Inc.

Headquartered in Piscataway, New Jersey, Milestone Scientific is engaged in pioneering advanced computer-controlled injection technologies for the medical and dental markets; and currently sells its award-winning products through a global distribution network serving North America, Asia, Africa and Europe. For more information on the STA System and other innovative Milestone products, please visit the Company's web sites found at www.milestonescientific.com and www.STAis4U.com.

Safe Harbor Statement

This press release contains forward-looking statements regarding the timing and financial impact of 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 for the year ended December 31, 2008. 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.

SOURCE Milestone Scientific Inc.

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