BIOLASE Earnings: Here’s Why Investors Don’t Like These Results
BIOLASE Inc (NASDAQ:BIOL) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.54%.
BIOLASE Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.06 in the quarter versus EPS of $-0.05 in the year-earlier quarter.
Revenue: Rose 18.51% to $14.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS loss of $0.06 per share. By that measure, the company missed the mean analyst estimate of $-0.02. It beat the average revenue estimate of $14.48 million.
Quoting Management: Federico Pignatelli, Chairman and Chief Executive Officer of BIOLASE, stated, “We are extremely pleased with the opportunity to partner with Sun Dental Labs, which currently has thousands of doctors utilizing their digital dental laboratory network in the United States alone. Their significant customer base represents nearly a 5% market share of the dental offices in North America. This is a tremendously valuable network and Sun Dental Labs has already provided our sales force with several qualified referrals.”
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