BIOLASE Earnings: Everything You Must Know Now

BIOLASE (NASDAQ:BIOL) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

BIOLASE Earnings Cheat Sheet

Results: Adjusted Earnings Per Share were the same at $-0.06 in the quarter as EPS of $-0.06 in the year-earlier quarter.

Revenue: Rose 6.61% to $14.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: BIOLASE reported adjusted EPS loss of $0.06 per share. By that measure, the company missed the mean analyst estimate of $-0.04. It missed the average revenue estimate of $15.69 million.

Quoting Management: Federico Pignatelli, Chairman and CEO, said, “While we experienced 17% net revenue growth for the second quarter of 2013 when compared to the prior year second quarter, this result was approximately 7% to 10% lower than our internal goal for the quarter. While we are experiencing growth in all areas of our business, we fell short of our own internal expectations due to an unusually slow quarter end for our domestic laser sales, Germany not performing as expected, a delay in U.S. deliveries of the latest CAD/CAM system model from our European vendor, and a pair of problems that hurt our sales in Canada. Severe flooding in June in parts of Canada impeded sales and we did not receive approval from Health Canada for our EPIC 10, which was anticipated in the second quarter. Compounding these head winds domestically were the continued uncertainty and confusion over the recent implementation of Obamacare and a sharp rise in interest rates.”

Key Stats (on next page)…

Revenue decreased 2.74% from $14.6 million in the previous quarter. EPS increased to $-0.06 in the quarter versus EPS of $-0.08 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.01 to a loss $0.01. For the current year, the average estimate has moved down from a profit of $0.02 to a loss of $0.10 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)