SOURCE: Remedent, Inc.

February 14, 2011 10:00 ET

Remedent Reports Profits in Third Quarter

Remedent to Host a Conference Call to Discuss Results at 9 AM EST on Friday, February 18, 2011

DEURLE, BELGIUM--(Marketwire - February 14, 2011) - Remedent, Inc. (OTCBB: REMI), an international company specializing in research, development, and manufacturing of oral care and cosmetic dentistry products, reported results for the third quarter ended December 31, 2010 (in US Dollars).

Net sales for the three months ended December 31, 2010 increased 77% to $3.25 million compared to $1.83 million for the same year ago quarter. Net sales for the nine months ended December 31, 2010 increased 69% to $9.78 million compared to $5.78 million in the same year ago period. The increase in sales was mainly due to increased sales in Asian Glamsmile facilities in Beijing and Hong Kong. Our sales also increased as a result of the continued launch of new, higher margin, OTC products.

Profit for the three months ended December 31, 2010, prior to outside participation and tax, totaled $169 thousand compared with losses of $1 million for the same year ago quarter. Profit for the nine months ended December 31, 2010, prior to outside participation and taxes, totaled $1.15 million compared with losses of $2.66 million for the same year ago period.

Profit attributed to Remedent common stockholders for the three months ended December 31, 2010, was $17 thousand compared with losses of $836 thousand for the same year ago quarter. Profits attributable to Remedent common shareholders for the nine months ended December 31, 2010, were $530 thousand compared with losses of $2.22 million for the same year ago period.

Cash and cash equivalents totaled $1.74 million at December 31, 2010 compared to $613 thousand at March 31, 2010.

Management Commentary

"The shifting of our business model from wholesale (B2B) model via a distributor to a direct retail model is bearing fruit as we discussed in prior conference calls. During the current and prior quarters we have been including our retail Asian operations of approximately $2 million gross revenues as we are continuing to open Spa locations in both Europe and Asia during our final quarter as well as in the next fiscal year. Sales in our Spa locations continue to exceed our expectations as sales continue to climb," said Guy De Vreese, CEO of Remedent.

Conference Call Information

Remedent will host a conference call on Friday, February 18, 2011 at 9 AM EST (6 AM PST) to discuss these results and its strategic plan for the future. A question and answer session will follow management's presentation. To participate in this call, dial the appropriate number 5-10 minutes prior to start time.

Date: Friday, February 18th 2011.
Time:  9 AM EST. (6 AM PST).
Dial in number: 877-741-4253
Passcode: 5796529

The replay of the call will be available through March 15, 2011. The dial in number for the replay is 888-203-1112. The replay passcode is 5796529.

About Remedent

Remedent, Inc. specializes in the research, development, manufacturing and marketing of oral care and cosmetic dentistry products. The company serves professional dental industry with breakthrough technology for dental veneers. These products are supported by a line of professional veneer whitening and teeth sensitivity solutions. Headquartered in Belgium, Remedent distributes its products to more than 35 countries worldwide. For more information, go to www.remedent.com.

Forward-Looking Statements

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.

                      REMEDENT, INC. AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                               (unaudited)

                          For the three months      For the nine months
                           ended December 31,        ended December 31,
                           2010         2009         2010         2009
                        -----------  -----------  -----------  -----------

Net sales               $ 3,248,396  $ 1,834,021  $ 9,786,708  $ 5,775,125
Cost of sales               911,197      972,247    2,619,476    3,370,491
                        -----------  -----------  -----------  -----------
  Gross profit            2,337,199      861,774    7,167,232    2,404,634
                        -----------  -----------  -----------  -----------
Operating Expenses
    Research and
     development            141,687      150,225      319,226      231,345
    Sales and
     marketing              629,654      403,171    1,536,644      891,182
    General and
     administrative       1,176,078    1,065,114    3,584,387    3,210,512
    Depreciation and
     amortization           178,288      206,923      562,515      558,281
                        -----------  -----------  -----------  -----------
  TOTAL OPERATING
   EXPENSES               2,125,707    1,825,433    6,002,772    4,891,320
                        -----------  -----------  -----------  -----------
INCOME (LOSS) FROM
 OPERATIONS                 211,492     (963,659)   1,164,460   (2,486,686)
                        -----------  -----------  -----------  -----------
OTHER INCOME (EXPENSES)
    Warrants issued              --       (8,350)          --     (168,238)
    Interest expense        (52,768)     (56,915)    (142,105)    (120,768)
    Interest income          11,218       24,179      123,065      115,337
                        -----------  -----------  -----------  -----------
  TOTAL OTHER INCOME
   (EXPENSES)               (41,550)     (41,086)     (19,040)    (173,669)
                        -----------  -----------  -----------  -----------

NET INCOME (LOSS)
 BEFORE INCOME TAXES
 AND NON-CONTROLLING
 INTEREST                   169,942   (1,004,745)   1,145,420   (2,660,355)
PROVISION FOR INCOME
 TAXES                       91,393           --      140,568           --
                        -----------  -----------  -----------  -----------

INCOME (LOSS) FROM
 CONTINUING OPERATIONS
 BEFORE NON-CONTROLLING
 INTEREST, NET OF TAX        78,549   (1,004,745)   1,004,852   (2,660,355)

LESS: NET INCOME (LOSS)
 ATTRIBUTABLE TO
 NON-CONTROLLING
 INTEREST                    61,808     (168,624)     474,696     (436,020)
                        -----------  -----------  -----------  -----------

NET INCOME (LOSS)
 ATTRIBUTABLE TO
 REMEDENT, INC. Common
 Stockholders           $    16,741  $  (836,121) $   530,156  $(2,224,335)
                        ===========  ===========  ===========  ===========

INCOME (LOSS) PER SHARE
    Basic               $      0.00  $     (0.04) $      0.03  $     (0.11)
                        ===========  ===========  ===========  ===========
    Fully diluted       $      0.00  $     (0.04) $      0.02  $     (0.11)
                        ===========  ===========  ===========  ===========
WEIGHTED AVERAGE SHARES
 OUTSTANDING
    Basic                19,995,969   19,995,969   19,995,969   19,995,969
                        ===========  ===========  ===========  ===========
    Fully diluted        30,108,762   33,789,738   33,989,738   33,789,738
                        ===========  ===========  ===========  ===========




                      REMEDENT, INC. AND SUBSIDIARIES
     CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
                              (Unaudited)


                          For the three months      For the nine months
                           ended December 31,        ended December 31,
                        ------------------------  ------------------------
                           2010         2009         2010         2009
                        -----------  -----------  -----------  -----------
Net Income (Loss)
 Attributable to
 Remedent Common
 Stockholders           $    16,741  $  (836,l21) $   530,156  $(2,224,335)
OTHER COMPREHENSIVE
 INCOME (LOSS):
  Foreign currency
   translation adjustment   (59,479)     (24,844)     (81,239)      93,485
                        -----------  -----------  -----------  ----------- 
Total Other Comprehensive
 income (loss)              (42,738)    (860,965)     448,917   (2,130,850)
LESS: COMPREHENSIVE
 INCOME (LOSS)
 ATTRIBUTABLE TO
 NON-CONTROLLING
 INTEREST                   (21,759)      (6,331)     (24,902)      49,753

                        -----------  -----------  -----------  -----------
COMPREHENSIVE INCOME
 (LOSS) ATTRIBUTABLE TO
 REMEDENT Common
 Stockholders           $   (64,497) $  (867,296) $   424,015  $(2,081,097)
                        ===========  ===========  ===========  ===========




    REMEDENT, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS

                                                December 31,    March 31,
                                                    2010          2010
                                                ------------  ------------
                                                 (unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents                       $  1,737,310  $    613,466
  Accounts receivable, net of allowance for
   doubtful accounts of $33,150 at
   December 31, 2010 and $65,845 at March 31,
   2010                                            2,092,097       806,931
Inventories, net                                   2,041,096     2,161,692
Prepaid expenses                                   1,071,423       920,487
                                                ------------  ------------
  Total current assets                             6,941,926     4,502,576
                                                ------------  ------------
PROPERTY AND EQUIPMENT, NET                        1,385,763     1,735,719
OTHER ASSETS
Long term investments and advances                   750,000       750,000
Patents, net                                         214,500       246,992
Goodwill                                             699,635       699,635
                                                ------------  ------------
  Total assets                                  $  9,991,824  $  7,934,922
                                                ============  ============
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current portion, long term debt                 $     54,619  $    215,489
Line of Credit                                     2,136,960       674,600
Accounts payable                                   1,767,618     1,932,684
Accrued liabilities                                  739,628       491,536
Due to related parties                                95,354       268,484
                                                ------------  ------------
  Total current liabilities                        4,794,179     3,582,793
Long term debt less current portion                  458,236       425,882
                                                ------------  ------------
  Total liabilities                                5,252,415     4,008,675
                                                ------------  ------------

EQUITY:
REMEDENT, INC. STOCKHOLDERS' EQUITY
  Preferred Stock $0.001 par value;
   (10,000,000 shares authorized, none issued
   and outstanding)                                       --            --
  Common stock, $0.001 par value; (50,000,000
   shares authorized, 19,995,969 shares
   issued and outstanding at December 31, 2010
   and March 31, 2010)                                19,996        19,996
    Treasury stock, at cost; 723,000 shares at
     December 31, 2010 and March 31, 2010           (831,450)     (831,450)
Additional paid-in capital                        24,842,858    24,742,201
Accumulated deficit                              (19,035,786)  (19,565,943)
Accumulated other comprehensive (loss) (foreign
 currency translation adjustment)                   (731,298)     (650,059)
Obligation to issue shares                            97,500        97,500
                                                ------------  ------------
  Total Remedent, Inc. stockholders' equity        4,361,820     3,812,245
Non-controlling interest                             377,589       114,002
                                                ------------  ------------
  Total stockholders' equity                       4,739,409     3,926,247
                                                ------------  ------------
  Total liabilities and equity                  $  9,991,824  $  7,934,922
                                                ============  ============

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