Biolase Technology reported net revenues of $10.6 million for the first quarter of 2011 (end-March 31), a 9% increase over net revenues of $9.7 million in the fourth quarter of 2010.
Net revenues for the quarter were $10.6 million, up 140% from $4.4 million in the first quarter of 2010, driven by sales in the company's all-tissue laser system, the Waterlase iPlus, and the wireless iLase 5-watt diode laser system, Biolase noted.
International revenue in this year's first quarter was negatively affected as Biolase renegotiated its international exclusivity rights granted to Henry Schein, the company said. In April 2011, Biolase announced that it had regained full rights to sell and/or distribute the company's products in all international markets, which were previously exclusive markets of Schein. As a result, Biolase will now sell both direct and through multiple distributors in those markets, the company said.
