Premier Laser Reports First Quarter Results

IRVINE, Calif., Aug. 23 -- Premier Laser Systems Inc. announced unaudited results for the quarter ended June 30, 1999. Sales during the quarter grew to $3.7 million, an increase of 6.8 percent from last year's revenues of $3.4 million for the same period. The company attributed this increase in large part to increased sales of its dental laser and its EyeSys diagnostic eye care products. According to Colette Cozean, Premier Laser's chairman, president and CEO, dental sales began to rise in the fourth quarter after a year of flat and falling sales. Cozean noted that the pace of dental sales continues to be more encouraging than at any time during the past 12 to 15 months, and added, We were also quite pleased with the continued strength of our EyeSys product line.
Premier Laser reported a net loss for the quarter of $1.9 million, or 13 cents per share, after an extraordinary gain of $350,000, or two cents per share, resulting from the renegotiation of certain professional fees at the company's Ophthalmic Imaging Systems subsidiary. These results compare with a loss of $4.7 million, or 32 center per share, in the previous year's first quarter.