Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Biolase Technology Slips To Loss In Q4

Biolase Technology, Inc. (BLTI: Quote) reported Thursday a fourth-quarter net loss of $2.0 million or $0.06 per share, compared to net income of $174,000 or $0.01 per share last year.

Excluding iems, non-GAAP net loss was $1.3 million or $0.04 per share, compared to non-GAAP net income of $0.9 million or $0.04 per share.

On average, 5 analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net revenue for the quarter rose 36 percent to $13.2 million from $9.7 million last year, primarily driven by Biolase's exit from an exclusive distribution arrangement in August 2010 with Henry Schein,Inc.(HSIC) and the company's return to a direct sales and selected-distributor business model. Analysts expected revenues of $13.10 million.

Looking forward, the company expects revenue of approximately $11 million for the first quarter of fiscal 2012, Analysts expect first quarter revenue of $13.23 million. For the full year 2012, the company expects revenue of $57 million-$60 million . Analysts expect revenue of $66.31 million for the full year 2012.

Register
To receive FREE breaking news email alerts for BioLase Technology and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Specialty drugmaker Horizon Pharma plc (HZNP) on Friday managed to redomicile itself as an entity incorporated in Ireland following the completion of its $660 million acquisition of Vidara Therapeutics International plc. The deal will help it avoid paying the high rate of U.S. corporate taxes. The... Stocks showed a lack of direction over the course of the trading day on Friday after failing to sustain an initial upward move. Despite the choppy trading, the Dow once again managed to end the session at a new record closing high. The major averages turned in a mixed performance on the day. President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.