ALL: Where does today's PLSIA news (below) leave us? I'm in BLTI @ 5 3/4 !!!!
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Tuesday May 20 7:30 AM EDT
Company Press Release
Premier Laser says enthusiasm for hard-tissue Centauri
dental lasers extremely strong
First Centauri shipments scheduled for May and June
Ramp expected over summer as training courses are completed
IRVINE, Calif.--(BUSINESS WIRE)--May 20, 1997--Premier Laser Systems Inc.
(NASDAQ:NM - news) Tuesday said that after the FDA cleared its Centauri Er:YAG to market
for hard-tissue dentistry, the response from the dental community and the public has been very
strong, clogging phone lines with hundreds of calls daily and swamping the company's Web site
with up to 12,000 hits per day.
Chairman, President and Chief Executive Officer Colette Cozean, Ph.D said that the opportunity
for virtually painless hard-tissue dentistry has very widespread appeal.
Cozean commented: ``We originally estimated that of the 120,000 dentists currently in practice in
the United States, we would hear from one to two percent as 'early adopters' in the first 12 to 18
months. It is now apparent that the level of enthusiasm among dentists and patients may be much
higher than that. As of last week, we had logged more than 1,200 expressions of interest.
``On average, about 10 percent of calls have ordered a Centauri by phone; about 20 percent have
signed up for training courses; about 50 percent have requested specifications and/or other
literature on Centauri and/or our other dental lasers; the remaining 20 percent have asked specific
questions that were answered with no further follow-up needed. Our communications media --
phones, faxes, Web site -- have been stretched beyond capacity, so we have no idea the number
of calls we have not been able to take.''
Cozean said that Premier Laser plans to ship the first 8 Centauri hard-tissue systems this month,
with one to two dozen more in June.
She said: ``The larger ramp in shipments is likely to begin over the summer, after we have been
able to conduct more training courses and procure more long lead-time components. At this point
we believe we can manufacture up to 400 systems or so before the end of our fiscal year on March
31, 1998; we are examining ways in which to increase that build schedule to accommodate
demand.''
CFO Michael Hiebert said that numerous holders of the company's publicly traded warrants
(NASDAQ:NM - news) have exercised warrants over the past two weeks. He said that the
quantity of exercises and the proceeds to the company will be announced when data is available
from the transfer agent, which is backlogged with exercises. He said that the company's need for
additional working capital to support the ramp in manufacturing and deliveries appears to be more
than satisfied by these exercises.
Cozean said that the company's introductions of ophthalmic lasers will roll out as planned over the
summer. She said that several ophthalmic Er:YAG systems are already scheduled to be shipped in
the quarter ending June 30, 1997. She also said that the heightened level of activity in hard-tissue
lasers has not interrupted the order flow and shipment rate of the company's Multi Operatory
Dentalaser (argon) lasers and its Aurora (diode) lasers, which are used for teeth whitening,
composite curing and soft-tissue procedures. Orders for these systems continue to flow in at the
rate of approximately 1 to 2 systems per working day.
Premier Laser Systems develops, manufactures and markets several lines of proprietary medical
lasers, fiber optic delivery systems and associated products for a variety of dental, ophthalmic and
surgical applications.
The statements in this news release that relate to future events or performance, including statements
concerning future levels of sales, future production capacity and future product introduction are
forward-looking statements that involve risks and uncertainties, including risks associated with
uncertainties related to the development of markets for and commercial acceptance of the
company's products and services, the availability of components, competitors' product
introduction, and other risks identified in the company's SEC filings. Actual results may differ from
those described in these forward-looking statements. Readers are cautioned not to place reliance
on these forward-looking statements, which speak only as of the date hereof.
More news for referenced ticker symbols: NM, PLSIA, and related industries: medical.
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