Biolase Q1 revenues up 19%

Biolase reported net revenue of $14.6 million for the first quarter of 2013 (end-March 31), compared with $12.3 million in the same quarter last year.

The 19% increase was driven by increased sales of Biolase's core laser systems and imaging products, the company noted in a press release. Laser system net revenue increased by approximately $814,000, or 9%, for the quarter compared with the same period last year.

Imaging revenues, which included both cone beam and CAD/CAM, totaled approximately $1.0 million, or 7% of net revenue, during the first quarter of 2013, compared with $143,000, or 1% of net revenue, for the prior-year quarter.

However, Biolase reported a net loss of $2.6 million for the quarter, compared with a net loss of $1.7 million for the first quarter of 2012.

The quarter-over-quarter decrease was primarily due to higher sales of WaterLase and diode systems internationally, which generally carry a lower margin than the company's direct sales in North America, and the increase in sales of its licensed imaging systems as a proportion of revenue, which also carries lower margins than the laser products, according to Federico Pignatelli, chairman and CEO.

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