Laserscope Reports Results for First Quarter 1999

SAN JOSE, Calif., April 22 -- Laserscope reported revenues of $11.9 million for the quarter ended March 31, 1999, compared with $13.6 million for the same quarter in 1998. After excluding revenues of $1.9 million recorded in the first quarter of 1998 from the sale of Laserscope's hospital equipment business to Heraeus Medical in November 1998, comparable first quarter year-to-year sales rose from $11.7 million to $11.9 million. The company reported a net loss for the quarter of $0.64 million, or $0.05 per share, compared to a net loss of $0.23 million, or $0.02 per share, for the first quarter a year ago.
Robert V. McCormick, Laserscope's president and CEO, commented that the company has been successful in marketing PDT laser systems to many cancer treatment facilities, including Graduate Hospital in Philadelphia, Hackensack University Medical Center in New Jersey, and Boston's Brigham and Women's Hospital.