Laser and CAD/CAM scanner company Biolase reported a net loss for its fiscal third quarter of 2016, but the company cut its loss compared with the same quarter of last year and the second quarter of this year.
For the quarter (end-September 30), the company reported a net loss of $3.1 million, down from $5.3 million in the same quarter of 2015. Biolase's net loss in the second quarter of 2016 was $3.5 million.
Biolase attributed the decrease net loss to overall business improvements and an increase in net revenue. Net revenue was $13.2 million, an increase of 18% compared with the same period of 2015. The revenue increase could be attributed to U.S. laser sales.
The company is also involved in the dental imaging equipment market, including digital x-rays and CAD/CAM scanners.
