BIOLASE Comments on Recent Market Activity; Reiterates Guidance
BIOLASE, Inc. (NASDAQ: BIOL), the World's leading dental laser manufacturer and distributor, announced today that there is no fundamental reason for the recent decline in stock price on the NASDAQ exchange.
The Company also reiterates its guidance for unadjusted revenue for the second quarter of 2012 of approximately $13.0 million to $14.0 million, an increase of approximately $900,000 to $1.9 million, or 7 to 16 percent, compared to $12.1 million for the second quarter of 2011. Last year's second quarter included a one time order of approximately $2 million delivered to Henry Schein (NASDAQ: HSIC), the Company's former exclusive distributor, so the actual year-over-year comparisons will show greater non-GAAP growth rates considering this event. Note, however, that the Company's second quarter revenues may be impacted by accounting consequences related to its purchase of Schein's inventory of Waterlase MD™ Turbos, which was completed on April 12, 2012. Full-year revenue guidance for 2012 remains $57 million to $60 million.
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