BlueStone Capital Partners Announces Investment Opinion on Biolase Technology, Inc.NEW YORK--(BUSINESS WIRE)--Aug. 18, 1999-- BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital reiterates a STRONG BUY recommendation on BLTI BLTI Blonder Tongue Laboratories, Inc. Senior Analyst, Scott Baily at BlueStone Capital reiterates a STRONG BUY recommendation on 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- $ 2 11/16) and maintains a 12 month price target of $7-$10 after reporting 2Q earnings in-line with expectations. Analyst's Summary -- With BLTI's 2Q FY99 results generally in-line with our projections and better-than-expected in some areas, we are reiterating our STRONG BUY rating on BLTI. We believe the stock's recent softness gives investors an attractive buying opportunity, and we are maintaining our 12 month price target of $7-$10. -- Specifically, revenues in the 2Q FY99 (June) increased to $1.4 million, up from $236,000 in 2Q last year, a gain of 496%. We had been estimating $1.0 million. The 2Q FY99 EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. from operations was ($0.05) versus ($0.08) last year, and in line with EPS estimate of ($0.05). The growth in 2Q was primarily due to increasing sales of BLTI's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , the Millennium 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. laser system. -- As we mentioned in our recent update, this fall we anticipate BLTI will make a number of positive announcements which should continue to give investors added confidence about the company's future prospects. Announcements we expect include: two new product introductions, additional distribution agreements, a new FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. clearance, and further growth of its marketing efforts and salesforce. -- In addition to growth in sales from BLTI's Millennium laser system, we further expect that royalties from the company's LaserSmile distribution agreement with Tactica International will begin to pick up early this fall in 3Q and continue during the upcoming holiday selling season during 4Q. BlueStone Capital Partners, L.P. is a full service investment banking and brokerage firm that delivers financial services to emerging growth and medium size companies worldwide. BlueStone Capital assists Clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. |
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