DEERFIELD BEACH, Fla., April 7 /PRNewswire-FirstCall/ -- BioLok International Inc. , the manufacturer and worldwide distributor of leading-edge dental implant technology, today announced the issuance of revenue and earnings guidance for its fiscal year 2006 ending October 31, 2006. Revenue for the full year is expected to reach a record level of approximately $10 million or a 40% improvement from the prior year. This rate of growth is estimated by BioLok management to be over 2 times the industry’s real market growth for dental implant products.
As previously announced, the Company achieved record first quarter 2006 revenue of $2.0 million, an increase of 28% from the same period of fiscal 2005. For the first five months of fiscal year 2006 ending March 31, 2006, BioLok’s revenue increased by 31% from the equivalent 2005 period, which reflects a growth rate in the fiscal second quarter to date of approximately 38%. BioLok management believes its quarterly growth rate will continue to increase from the first quarter to a level in excess of 40% by the fourth quarter in order to achieve its full year target of 40%.
The revenue guidance by management does not include contribution for BoneGen-TR, the Company’s latest product which last month received 510(k) clearance from the United States Food and Drug Administration (FDA). BoneGen- TR is a clinically safe, nano-composite, time release calcium sulfate product used for bone regeneration, augmentation, and as a soft tissue barrier in implantology, periodontology, endodontics and oral surgery. BioLok recognizes the need for BoneGen-TR in the orthopedic and maxiofacial professions and will be commencing efforts to identify distribution channels into these markets. To this end, the Company is creating a product manager position to focus on opportunities throughout the entire $1 billion bone augmentation market. Until the position has been filled, Chip Jones, BioLok’s Vice President of Marketing, will be directing marketing and distribution initiatives for BoneGen-TR.
BioLok continues to reinvest in its sales, marketing, and research and development efforts, which is expected to result in a breakeven fiscal year. As previously indicated by the Company, minimal losses are expected to be incurred in the second and third quarters.
BioLok International Inc. is merging cell biology and technology to develop and market products for the dental implant and tissue regeneration markets. The Company is the worldwide manufacturer and distributor of the BioLok Precision Dental Implant System. BioLok offers a superior line of dental implants that incorporate many patented features and are synonymous with quality, fit of components, leading edge technology and design, and ease of use. Additional information is available on the Company’s Web site at http://www.biolok.com .
With the exception of the historical information contained in the release, the matters described herein contain certain “forward-looking statements” that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts may be deemed to contain forward-looking statements, including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company’s dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital and other risks and uncertainties. More detailed information about these risk factors are set forth and may be updated from time to time in filings by BioLok International, Inc. with the Securities and Exchange Commission, including the Company’s most recent quarterly report on Form 10-Q and other publicly available information regarding the Company. The Company disclaims any obligation to update information contained in any forward-looking statement.
Contact: Bruce L. Hollander, President/CEO of BioLok International, +1-954-698-9998, or blh@biolok.com; or investor relations, Jordan M. Darrow of Darrow Associates, Inc., +1-631-367-1866, or jdarrow@optonline.net, for BioLok.
BioLok International Inc.
CONTACT: Bruce L. Hollander, President/CEO of BioLok International,+1-954-698-9998, or blh@biolok.com; or investor relations, Jordan M. Darrowof Darrow Associates, Inc., +1-631-367-1866, or jdarrow@optonline.net, forBioLok
Web site: http://www.biolok.com//
