Leading dental laser maker BIOLASE Technology (BLTI) has secured a new patent from the U.S. Patent and Trademark Office, which covers the application of its laser technologies for eye surgeries to treat vision conditions such as presbyopia (loss of near vision).
Presbyopia is an age-related eye condition characterized by the loss of the ability of the lens to focus, making it difficult to see close objects. The condition affects more than 100 million Americans and over 2 billion people globally.
The new patent, dubbed “Methods for Treating Eye Conditions”, covers the methods for treating eye conditions including presbyopia. It is related to the application of dyes and colored lighting to make eye structures more visible for various eye surgeries performed with laser technologies.
This represents BIOLASE’s sixth patent in the U.S. under the “Methods for Treating Eye Conditions” patent family. The company currently holds an aggregate of 9 issued and 20 pending U.S. and international patents in the four families in the ophthalmology field. BIOLASE, in January 2011, secured a new patent called “Methods for Treating Hyperopia and Presbyopia via Laser Tunneling”.
BIOLASE develops and markets lasers and related products for applications in medicine and dentistry. Its key products are dental laser systems that perform a broad spectrum of dental procedures, including cosmetic and complex surgical applications.
The California-based company’s shares got a major boost in January 2011 following the release of an upbeat revenue outlook for fiscal 2011. BIOLASE expects revenues between $55 million to $60 million for the year, representing a staggering 120%-140% year over year growth. Sales for first-quarter 2011 have been pegged in the range of $8.75 million to $9.25 million.
BIOLASE also stated that sales to Henry Schein (HSIC), one of its key distributors, represented roughly 20% of the revenues for fourth-quarter 2010. The company said that its new online store has exceeded its sales expectation by more than 40%.
Moreover, based on its recently released unaudited results, BIOLASE has turned to profit in the fourth quarter on revenues of $9.7 million. The company is expected to report final results on March 10.
BIOLASE TECH (BLTI): Free Stock Analysis Report
HENRY SCHEIN IN (HSIC): Free Stock Analysis Report
Zacks Investment Research
