Biolase Reports Record Second Quarter Sales

SAN CLEMENTE, Calif., Aug. 18 -- Biolase Technology Inc. announced sales of $1,406,255 for the three months ended June 30, 1999, a significant increase from last year's sales of $236,087 for the same period. A net loss of $1,245,552, or $.07 per share, was reported for the second quarter of 1999, which figure included $171,400 in non-recurring charges. This compares with a net loss of $1,203,151, or $.08 per share, for the comparable period in 1998.
Sales of $3,192,238 were reported for the six-month period ended June 30, 1999, an increase of 540 percent from the $498,617 recorded in the first six months of the prior year. The net loss for the first six months of the current fiscal year, inclusive of non-recurring charges of $230,762, was $1,915,408, or $.11 per share, compared with a net loss of $2,032,262, or $.15 per share for the same period in 1998. Biolase attributed the current year's improved sales figures in large part to increased sales of the company's Millennium HydroKinetic laser system.