Premier Laser Systems Posts First-Ever Quarterly Profit

Premier Laser Systems Inc., a manufacturer of medical and dental lasers and other products, reported its first quarterly profit--$452,265--in its seven-year history.

Its fiscal third-quarter net income, amounting to 4 cents a share, is a turnaround from a loss of $979,342, or 15 cents a share, for last year’s third quarter. Sales for the three months ended Dec. 31 climbed to $7.2 million from $1.5 million.

The company attributed the gains primarily to its dental lasers and the growth of its ophthalmic business. Much of its prior losses stemmed from money spent on acquisitions and on research and development of its products.

For its first nine months, Premier Laser lost $12.2 million, or $1.14 a share, which included second-quarter write-downs and charges totaling $11.3 million related to an acquisition.

For the same period in its last fiscal year, Premier Laser lost $2.6 million, or 46 cents a share. Revenue for the first nine months rose to $12.3 million from $3.9 million for the same period last year.