QUARTERLY REPORT
SAN CLEMENTE, Calif.--(BW HealthWire)--Nov. 18, 1997--Biolase Technology Inc. (NASDAQ:BLTI), an international provider of advanced medical, dental and surgical products, Tuesday announced its fiscal third quarter and nine months results for the period ending Sept. 30, 1997.
Sales for the third quarter were $604,681, as compared with $132,098 for the same period last year, an increase of over 350%, and a sequential increase of 40% from the second quarter.
The company reported a quarterly loss of $513,247, or $0.04 a share, versus a quarterly loss of $611,012, or $0.05 a share for the same period last year.
For the 1997 nine-months period, sales were $1,172,027, and the company reported a net loss of $1,958,843.
"We are very pleased with the progress made in the third quarter as the company continues to successfully transition from R&D, into marketing and distribution," stated Donald La Point, president, and chief executive officer of Biolase.
"For the first time, we are taking orders for our HydroKinetic Tissue Cutting Systems, both Millennium and Dermalase in the domestic market while continuing to negotiate additional distribution agreements."
La Point added, "We are also seeing strong results from our recently initiated direct sales force, and expect a significant increase in revenues for the fourth quarter."
In December 1996, the company announced a three year, $12 million minimum purchase agreement that commenced in the 2nd quarter of 1997 for the distribution of Millennium surgical systems with Orbis High Tech Dental GmbH, Germany's largest high-tech dental distributor.
The company is currently seeking FDA clearance for Millennium in the United States. "The increase in revenue is an indication of strong product demand as we continue to take Millennium orders internationally and domestically," La Point affirms.
Biolase Technology manufactures and markets advanced medical, dental and surgical products, including laser systems, HydroKinetic surgical cutting systems, and develops specialized biomaterials for dentistry and other medical specialties. The company's products incorporate new patented and patent-pending technologies that achieve results not available through competing products.
The matters discussed in this news release include forward looking statements .......... |
