Biolase (BIOL) Tops Q4 EPS by 4c

Biolase (NASDAQ: BIOL) reported Q4 EPS of ($0.13), $0.04 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $13 million versus the consensus estimate of $13.01 million.

• U.S. laser revenue increased 51% year over year
• U.S. consumables and other revenue increased 13% year over year
• Southern California model market laser revenue increased 600% year over year
• New customer growth, reduced expenses and a favorable change in product mix led to gross margin expansion of almost 1,500 basis points
• The non-GAAP net loss for the fourth quarter of 2018 was $2.7 million, or $0.13 per share, compared with a non-GAAP net loss of $3.1 million, or $0.19 per share for the fourth quarter of 2017.
• The non-GAAP net loss for the year ended December 31, 2018 totaled $14.5 million, or $0.71 per share, compared with a non-GAAP net loss of $13.6 million, or $0.92 per share, for the year ended December 31, 2017.

"Our strong revenue results for the fourth quarter reflect solid execution of our go-to-market sales initiatives and our steadfast commitment to growing and expanding the adoption of our all tissue lasers throughout the dental industry," commented Todd Norbe, President and Chief Executive Officer. "As a result, we are seeing increases in the adoption and utilization of BIOLASE's all tissue lasers, including the better-than-expected early response to our model market initiatives in the Southern California and Dallas/Fort Worth markets. These ongoing efforts, combined with our focus on improving our efficiency, have enabled us to significantly improve our gross margin, which gives us increased confidence that we will achieve our goal of becoming EBITDA positive in the fourth quarter of 2019."

For earnings history and earnings-related data on Biolase (BIOL) click here.

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