Premier Laser Reports Second Quarter Results

IRVINE, Calif., Nov. 18 -- Premier Laser Systems Inc. reported net sales of $3 million for the second fiscal quarter ended September 30, 1999. Net loss declined to $3 million, or 20 cents per share, compared with net sales of $3.3 million and a net loss of $5.7 million, or 39 cents per share, for the second quarter of the prior fiscal year. According to Colette Cozean, Premier Laser's chairman, president, and CEO, the traditionally slow summer months affected sales in all of the company's product lines. In addition, the company and its 51-percent-owned affiliate, Ophthalmic Imaging Systems, were preparing for the autumn launch of new ophthalmic and dental products. Premier Laser also found manufacturing output to be affected by cash flow constraints during the period.
In commenting on the results, Cozean noted, Currently the combined total of accepted and unshipped orders for both ophthalmology and dental products is at a level that is higher than the total revenues for the second quarter of this fiscal year.