Biolase Technology, Inc. (NASDAQ: BLTI), the world’s leading dental laser company, today announced that management is scheduled to make an investor presentation at the 10th Annual Needham Healthcare Conference on Wednesday, April 6, at 3:20 pm Eastern Time. The conference is being held April 5-6, at the New York Palace Hotel in New York City.
There will be limited opportunities to meet with management on April 5 and 6, and if you would like an introduction to management and get a clear picture of how this classic turnaround story is unfolding, please contact us at the numbers below.
The presentation will be accessible by live webcast in the Investors section of the BIOLASE website at www.biolase.com. A replay of the webcast will be available on the BIOLASE website for 30 days.
With a new Board of Directors and executive team, and under the leadership of Chairman and CEO Federico Pignatelli, a series of actions and key accomplishments include the following:
The establishment of increased annual revenue guidance for 2011 of $60 to $65 million, representing growth of approximately 129 – 148 percent over 2010, based in part on the impending launch of the new BIOLASE Imaging division. Guidance for net revenue for the first quarter ended March 31, 2011, traditionally the lowest quarter of the year, has been increased to $9.25 – $9.75 million up from $8.75 – $9.25 million and up from $4.4 million in the first quarter of 2010, with positive net income.
The adoption of a stock dividend policy, with a declared stock dividend of one percent, payable March 31, 2011 to shareholders of record on March 15, 2011.
The successful launch and initial domestic order generation of the Waterlase iPlus All-Tissue Laser with improved cutting speeds and precision, and a breakthrough intuitive user interface designed for broader applications and wider adoption.
The receipt of CE Mark Approval for the Waterlase iPlus with commercial sales initiated in Europe.
The launch of the “BIOLASE Store,” at www.biolasestore.com, for dentists and hygienists using BIOLASE laser technology products to view and purchase consumables, training, warranties and service contracts. The website has already surpassed internal revenue goals and is expected to become a significant revenue contributor in 2011.
The opening of a sales and support office, BIOLASE Asia-Pacific, to expand penetration in the fast-growing Asian dental and medical markets and provide service and support, education and technical support to the Company’s existing 15 distributors, and rapidly growing, in the Asia-Pacific region. This new support center is soon to be followed by the formation of BIOLASE India-Middle East and BIOLASE South America.
The formation of a new division, BIOLASE Imaging, to design and distribute state-of-the-art extra-oral and intra-oral dental imaging devices that complement the minimally invasive dental treatment solutions offered by the BIOLASE Laser division.
The receipt of approximately $5.9 million in cash, which was raised through the sale of approximately 1.8 million shares of BIOLASE common stock and $518,000 through the exercise of options. A portion of these proceeds were used to pay off the remaining balance of a $3 million debt facility in Q1 2011, making BIOLASE free of bank debt.
The award of several new patents for use of the Company’s patented Er,Cr:YSGG laser technology for eye surgery, including for the treatment of presbyopia, a condition suffered by 2.5 billion people worldwide.
The company has received updated coverage from Needham research analyst Dalton Chandler. Based upon the company’s announced 4th quarter results, new guidance for 2011, the introduction of the iLase and the latest version of the company’s flagship Waterlase laser, Needham has placed a 12-month target price of $7.00 on Biolase common stock.
About BIOLASE Technology, Inc.
BIOLASE Technology, Inc., the world’s leading dental laser company, is a medical technology company that develops, manufactures and markets lasers and related products focused on technologies that advance the practice of dentistry and medicine.
The Company’s products incorporate patented and patent pending technologies designed to provide clinically superior performance with less pain and faster recovery times. BIOLASE’s principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. Other products under development address ophthalmology and other medical and consumer markets. For more information, including videos, investor information, product descriptions, news reports on the technology and more, go to www.biolase.com.
For updates and information on laser and Waterlase dentistry, find BIOLASE at http://www.biolase.com, Twitter at
http://twitter.com/GoWaterlase, and YouTube at
Capital Market Relations has assembled a four-page report on Biolase that describes the company’s technology, competitive advantages, marketing, sales and restructuring plan that we believe will add significant shareholder value in both the short term and over the long haul.
Click here to download the Capital Market Report for Biolase Technology, Inc.
If you would like more information or introductions to management, please call us at the numbers below.
Chris Rosgen Jay Goth