Biolase Loss Widens, Misses Estimate

(RTTNews) - Biomedical company Biolase Inc (BIOL) Monday reported first-quarter net loss of $4.9 million or $0.13 per share compared with a loss of $2.6 million or $0.08 per share last year.

Excluding items, adjusted loss for the quarter was $4.1 million or $0.11 per share compared with a loss of $2.3 million or $0.07 per share a year ago.

Revenues for the quarter were lower at $11.5 million compared with $14.6 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.05 per share on revenues of $13.3 million for the quarter. Analysts' estimates typically exclude special items.

Biolase said that domestic sales of laser were hurt owing to two reasons: the director dispute and resulting shareholder litigation filed by Oracle Partners, L.P. and the harsh winter in the mid-west and east coast.

Irvine, California-based Biolase makes dental lasers and also is a distributor of digital radiography, intra oral scanners, and chair-side milling machines and 3-D printers for dentistry.