This was issued today
BlueStone Capital Partners Announces Investment Opinion on BLTI
(Business Wire 08/04 10:47:59)
Business Editors
NOTE TO EDITORS: The following is an investment opinion issued
by BlueStone Capital Partners
NEW YORK--(BUSINESS WIRE)--Aug. 4, 1999--
BlueStone Capital Partners, L.P.
Re-iterates STRONG BUY Rating on BLTI.
Senior Analyst, Scott Baily at BlueStone Capital reiterates a
STRONG BUY recommendation on Biolase Technology, Inc. (NASDAQ: BLTI- $
2 25/32) and maintains a 12 month price target of $7-$10 after
achieving a number of important milestones in the first half of 1999.
Analyst's Summary
- BLTI has achieved a number of important milestones during the
first half FY99. Combined with the several meaningful
announcements recently, and given our expectations for strong
results in 2Q FY99 and for the balance of FY99, we remain quite
optimistic about BLTI's market leadership opportunities and its
growth prospects over the next couple of years. Accordingly, we
continue to rate BLTI's stock a STRONG BUY, and our 12 month
price target is unchanged at $7-$10.
- BLTI recently signed a one year worldwide distribution license
for its LazerSmile Tooth Whitening System with Tactica
International for an annual minimum quota of 500,000 units.
Tactica will pay a royalty per unit to BLTI and has taken over
the marketing of LazerSmile, which began in July. We estimate the
license can generate $2-$3 million in sales over the next 12
months, of which 90% should be profit.
- In June, BLTI received the FDA approval of its Millennium
Hydrokinetic laser to dentists for procedures on children under
18 years old. This important FDA approval follows the company's
clearance earlier this year of the Millennium for Class II and
Class IV, thereby allowing marketing of the laser for all dental
classes.
- BLTI recently introduced its new MVP-HS Laser Delivery system &
several disposable tips for use with its Millennium laser. We
believe the MVP-HS system & disposable tips further increases
BLTI's technological lead over the competition.
BlueStone Capital Partners, L.P. is a full service investment
banking and brokerage firm that delivers financial services to
emerging growth and medium size companies worldwide. BlueStone Capital
assists Clients in maximizing their growth by providing sophisticated
investment strategies that are designed to achieve clients' strategic,
operating and financial goals.
--30--ks/ny*
CONTACT: BlueStone Capital Partners, L.P., New York
Scott A. Baily
Phone (212) 850-0558
KEYWORD: NEW YORK
INDUSTRY KEYWORD:
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