Biolase Q1 revenues jump 17%; losses double

Biolase Technology reported net revenue of $12.3 million for the first quarter of 2012 (end-March 31), up 17% from $10.6 million in the prior-year period.

However, net loss for the quarter more than doubled year over year, from $750,000 in the first quarter of 2011 to $1.7 million in the first quarter of 2012.

Approximately 65% of Biolase's revenues for the 2012 first quarter were from the sale of its all-tissue Waterlase systems, the company noted in a press release. Sales of Waterlase systems for the 2012 first quarter increased 82% compared to the same period in 2011.