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Biolase Technology Slips To Loss In Q4

3/8/2012 6:40 PM ET

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

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