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BioLok International Reports Record Sales for Preliminary Third Quarter and Nine Months 2006 Results; Successful Use of Pre-production Supplies of New BoneGen(TM)-TR Tissue Regeneration Biomaterial; Sales Launch on Track for Fiscal Fourth Quarter.

DEERFIELD BEACH, Fla. -- BioLok International Inc. (OTCBB:BLLI), the manufacturer and worldwide distributor of leading-edge dental implant technology and tissue regeneration biomaterials, today announced preliminary fiscal third quarter and nine months 2006 financial results. For the third quarter ended July 31, 2006, the Company's sales were a record $2.4 million, an increase of 29% from the same period of fiscal 2005. While sales during the month of May were on track with the Company's plan, June results were lower than anticipated. Sales in July, a seasonally slow month for the dental implant industry, increased to set a record for any month in the Company's history.

Sales for the first nine months of fiscal 2006 were a record $6.71 million, an increase of 30% over $5.16 million in the comparable prior year period.

"BioLok continues to grow at a rapid pace, although lower than we previously planned for the third quarter," said Bruce L. Hollander, BioLok's President and Chief Executive Officer. "We ended the third quarter with 13 direct sales representatives for the domestic market, which was less than our plan. Consequently, our entry into new markets and our strategies to gain regional traction did not occur early enough to make a meaningful contribution in the third quarter. We made a decision to put off the capital raise that was being considered until BoneGen(TM)-TR is introduced in our fourth fiscal quarter. Cash flow from operations and continued availability from our existing credit line has allowed us to maintain a strong growth trajectory while preserving stockholders' equity. Our entry into Japan, which was announced in June with the formation of a distribution agreement, is expected to deliver revenues toward the end of the fourth quarter or once the final product approval has been obtained from the Japanese authorities, in addition to entry into other markets, such as Poland, Hungary and surrounding countries, and The Philippines.

"Based on our results in the third quarter, we believe it will be challenging to grow revenues in excess of 40% as we previously forecast for the entire second half of the fiscal year. That forecast was predicated on raising additional working capital to expand the sales force which we selected not to do. However, based on our performance in July, which included acceleration of our domestic sales efforts and additional international distribution coming online in the fourth quarter, we expect the final three months of the year to reflect strong revenue growth in excess of twice the industry average. In addition, we expect marketing efforts for our new bone augmentation material, BoneGen-TR, to commence late in the fiscal fourth quarter."

BoneGen-TR is a clinically safe, nano-composite, time release calcium sulfate product used for bone regeneration, augmentation, and as a soft tissue barrier in Implantology, Periodontology, Endodontics and Oral Surgery, which are part of the broad bone augmentation market that is estimated at $1 billion annually by Datamonitor. Clinical human studies to enhance the product's marketability are expected to continue into 2007 in the U.S., Argentina, Australia and Spain at multiple private practices and universities.

"In non-clinical study applications performed to date, BoneGen-TR has been successfully used on patients who received the product from pre-production supplies that comply with delivery and packaging system requirements needed for commercial distribution. The results were very encouraging. Product feedback includes favorable review for ease of handling, blood absorption, barrier formation, and extended resorbtion rates. Based on the response of these advance users, our production readiness and the interest expressed by many of our customers, we are pleased to report that we are on schedule for revenue generating distribution to commence in the fourth quarter of fiscal 2006."

The Company will report full fiscal third quarter and nine month financial results by September 15, 2006.

BioLok International Inc. (OTCBB: BLLI) is merging cell biology and technology to develop and market products for the dental implant and tissue regeneration markets. The Company is the worldwide manufacturer and distributor of the BioLok Precision Dental Implant System. BioLok offers a superior line of dental implants that incorporate many patented features and are synonymous with quality, fit of components, leading edge technology and design, and ease of use. BioLok has also developed BoneGen-TR, a new clinically safe, nano-composite, time release calcium sulfate product for bone augmentation. Additional information is available on the Company's Web site at http://www.biolok.com.

With the exception of the historical information contained in the release, the matters described herein contain certain "forward-looking statements" that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts may be deemed to contain forward-looking statements, including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital and other risks and uncertainties. More detailed information about these risk factors are set forth and may be updated from time to time in filings by BioLok International, Inc. with the Securities and Exchange Commission, including the Company's most recent quarterly report on Form 10-Q and other publicly available information regarding the Company. The Company disclaims any obligation to update information contained in any forward-looking statement.
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Publication:Business Wire
Date:Aug 15, 2006
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