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Biolase warns of sales shortfalls
By Carla Mozee, CBS MarketWatch
Last Update: 8:07 PM ET July 16, 2004


SAN FRANCISCO (CBS.MW) - Biolase late Friday warned it would report second-quarter and third-quarter sales below analysts' expectations.



Biolase (BLTI: news, chart, profile), which makes medical and dental laser products, forecast a second-quarter sales range of $14.6 million to $14.8 million. It said second-quarter earnings would to be similar to its first-quarter earnings of $684,000, or 3 cents a share.

Analysts surveyed by Thomson First Call had expected the San Clemente, Calif.-based company to report earnings of 6 cents a share on sales of $16 million, on average.

For its third quarter, Biolase forecast a revenue range of $15 million to $16 million. Analysts had expected the company to report sales of $18 million and a per-share profit of 8 cents.

Biolase forecast fourth-quarter sales of $23 million to $25 million. There are no First Call estimates available for the fourth quarter.

Shares of Biolase fell 29 cents, or 2.4 percent, to close at $12.05 ahead of the announcement.