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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.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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While stocks have largely maintained a positive bias over the course of the trading day on Thursday, the major averages are turning in a mixed performance in mid-day trading. The S&P 500 has reached a new record intraday high and the Dow has climbed back above 17,000, while the tech-heavy Nasdaq is posting a modest loss. Suggesting that the economy is gaining traction, the Conference Board released a report on Thursday showing a bigger than expected increase by its index of leading U.S. economic indicators in July. Results of a survey released by the Federal Reserve Bank of Philadelphia on Thursday showed that regional manufacturing activity unexpectedly grew at an accelerated rate in the month of August, with the index of activity in the sector reaching a three-year high.
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