Dental laser company Biolase Technology, Inc, Irvine, Calif, has reported its operating results for its second quarter and the first 6 months of 2007.
Net revenue for the quarter that ended June 30, 2007, rose 14% to $18.2 million, up from $15.9 million in the second quarter of 2006. Net loss for the quarter narrowed to $901,000, or $0.04 per diluted share, compared with a net loss of $2.4 million, or $0.10 per diluted share, for the second quarter of 2006.
President and CEO Jeffrey W. Jones said, "In the second quarter we made solid progress in growing our revenues, highlighted by approximately 16% unit growth in domestic sales of the WaterlaseTM MD system as compared to the second quarter of 2006, and sales of our newly-introduced ezlaseTM diode laser system. When compared to the first quarter of this year, total revenue increased more than 20% sequentially and domestic unit sales of the Waterlase MD were up 23% sequentially, which we believe resulted primarily from improving traction with the sales representatives of our US distribution partner, Henry Schein Inc."
Net revenue for the first half of 2007 was $33.2 million, compared with $32.8 million for the same period in 2006. Net loss for the first half of the year narrowed to $2.6 million, or $0.11 per diluted share, compared with a net loss of $4.7 million, or $0.20 per diluted share, for the 6 months that ended June 30, 2006.