BIOLASE Technology announces fiscal 1997 first quarter results.SAN CLEMENTE San Clemente (săn klĭmĕn`tē), city (1990 pop. 41,100), Orange co., S Calif., on the Pacific coast; inc. 1928. Camp Pendleton, a large U.S. marine base, adjoins the city, which is chiefly residential. , Calif.--(BUSINESS WIRE)--May 13, 1997--BIOLASE Technology Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BLTI BLTI Blonder Tongue Laboratories, Inc. ) Tuesday announced 1997 first quarter results for the three-month period ended March 31, 1997. Sales for the first quarter of 1997 were $134,405, compared to $143,615 reported for the same period a year earlier. The net loss was $767,734, or $0.06 a share, in 1997 compared to a net loss of $496,718, or $0.04 a share, for the comparable period last year. "The first quarter, as expected, was a period of stepped-up activity in preparation for the introduction of two major BIOLASE products," said Donald A. La Point, president and chief executive offiecer of BIOLASE. "In particular, we established the resources necessary to begin shipping the first of our proprietary Millennium(tm) (HydroKinetic hydrokinetic /hy·dro·ki·net·ic/ (hi?dro-ki-net´ik) relating to movement of water or other fluid, as in a whirlpool bath. hy·dro·ki·net·ic or hy·dro·ki·net·i·cal adj. (tm) Tissue Cutting System) surgical devices under a $12 million minimum purchase agreement with our German distributor, Orbis High Tech Dental GmbH. "The first quarter was also a period of unusually active marketing effort, as we participated in several international and domestic trade shows in response to inquiries about Millennium(tm) for both hard and soft-tissue applications. In addition, substantial progress was made in preparation for manufacturing the Company's proprietary LaserBrush(tm), a consumer home dental maintenance system. Based on progress to date, our goal is to commence marketing LaserBrush(tm) at the end of third quarter." Added La Point: "Even with the increased expenses reported in the first quarter, we continued to maintain a comparatively strong balance sheet. Aided by a Reg D private placement, which raised $720,000 for the Company from the issuance of 200,000 shares of common stock, we were able to boost shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. slightly and to continue to operate with no debt on our books." BIOLASE Technology Inc. manufactures and markets advanced medical, dental and surgical products, including specialized biomaterials for dentistry dentistry, treatment and care of the teeth and associated oral structures. Dentistry is mainly concerned with tooth decay, disease of the supporting structures, such as the gums, and faulty positioning of the teeth. and other medical specialties Medical Specialties See also anatomy; disease and illness; drugs; health; remedies; surgery. adenography the science of the description of glands. — adenographic, adj. , and products for use in endodontic Endodontic Pertaining to the inside structures of the tooth, including the dental pulp and tooth root, and the periapical tissue surrounding the root. Mentioned in: Root Canal Treatment endodontic applications. -0- Note to Editors: The matters discussed in this news release include forward looking statements which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward looking statements. Such risks, uncertainties and other factors include, but are not limited to, the effect of actions of third parties, including governmental officials, the timely development and acceptance of new products, the impact of competitive products and pricing, and other risks detailed from time-to-time in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for fiscal year ended Dec. 31, 1996 and the Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 1997. Actual results may differ materially from those projected. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. CONTACT: BIOLASE Technology Inc. Donald A. La Point, 714/361-1200 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion