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August 16 , 2021 MILESTONE SCIENTIFIC Milestone Scientific Reports Fourteen - Fold Increase in Revenue for Second Quarter of 2021 ROSELAND , N.J. , Aug. 16 , 2021 ( GLOBE NEWSWIRE ) -- Milestone Scientific Inc. ( NYSE : MLSS ) , a leading developer of computerized drug delivery instruments that provide painless and precise injections , today provided a business update and announced financial results for the second quarter ended June 30 , 2021 . Arjan Haverhals , President and Chief Executive Officer of Milestone Scientific , commented , " We achieved a fourteen - fold increase in revenue to $ 2.4 million versus $ 168,000 for the same period last year , reflecting the strong recovery in our dental business , as well as the initial impact of our new sales and marketing initiatives . Importantly , our dental segment remains cash flow positive on a standalone basis with continued growth opportunities . In terms of our CompuFlo® Epidural and CathCheck TM Systems , we are beginning to see the positive effect of our commercial efforts and are encouraged by the traction we are gaining with healthcare institutions . We have significantly expanded our direct sales force with the addition of 9 new sales executives this year , as well as a new Vice President of Sales for our Medical segment . These initiatives are taking hold and our sales pipeline is robust . We are in late stage discussions with a number of hospitals , and the feedback from both anesthesiologists and the healthcare institutions has been positive , given the safety and economic benefits of our instruments . We are also in the process of adding new international distributors to build upon the traction we are gaining in the domestic market . We continue to maintain a strong balance sheet with approximately $ 16.0 million in cash and cash equivalents as we drive forward our commercial initiatives , while continuing to carefully manage our expenses . Although we faced challenges during the pandemic , we are back on a strong growth trajectory and I am encouraged by the outlook for the balance of 2021 and beyond . " For the three months ended June 30 , 2021 and 2020 , revenues were approximately $ 2.4 million and $ 168,000 , respectively . Dental revenues increased approximately $ 2.3 million , due in part to the re - opening of dental offices throughout the country and the rest of the world . Gross profit for the second quarter ended June 30 , 2021 was $ 1.4 million versus $ 112,000 for second quarter ended June 30 , 2020. Operating loss for the three months ended June 30 , 2021 was approximately $ ( 2.9 ) million versus approximately $ ( 3.2 ) million for the second quarter ended June 30 , 2020. Net loss was approximately $ ( 2.7 ) million , or $ ( 0.04 ) per share for the three months ended June 30 , 2021 , versus net loss of $ ( 3.2 ) million , or $ ( 0.06 ) per share , for the comparable period in 2020 . For the six months ended June 30 , 2021 and 2020 , revenues were approximately $ 5.3 million and $ 2.0 million , respectively . Dental revenues increased by approximately $ 3.4 million due in part to the re - opening of dental offices throughout the country and the rest of the world . Gross profit for the first six months of 2021 was $ 3.2 million versus $ 1.4 million for