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Premier Laser Systems

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BUSINESS
January 19, 1997
The Irvine medical laser manufacturer posted a third quarter net loss of $979,342, or 15 cents a share, compared with a net loss of $865,955, or 19 cents a share, for the same period of the prior fiscal year. Sales for the quarter ended Dec. 31 more than doubled to a record $1.5 million from $711,918. For the first three quarters, the company lost $2.6 million, or 46 cents a share, compared with a net loss of $3.6 million, or 80 cents a share, a year ago. Sales increased to $3.
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BUSINESS
September 27, 2000 | MARC BALLON, TIMES STAFF WRITER
Premier Laser Systems Inc., which shut down operations in March and filed for bankruptcy reorganization, said Tuesday that it has agreed to sell the laser technology that once helped make the company the darling of Wall Street. Chief Executive Michael J. Quinn also said he hoped to liquidate the remaining assets of the once-promising laser manufacturer within four months. Irvine-based Premier is selling its Erbium YAG laser technology for $3.75 million to SurgiLight Inc., an Orlando, Fla.
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BUSINESS
May 24, 1996
Premier Laser Systems Inc. has filed with the Securities and Exchange Commission to sell 2.5 million Class A common shares. The manufacturer of medical lasers expects the stock sale to raise $23.9 million after expenses. Premier would use the proceeds in part to expand its marketing and distribution capabilities, including distribution into international markets, according to a registration statement filed Wednesday with the SEC.
BUSINESS
July 19, 2000
Laser manufacturer Premier Laser Systems Inc., which shut down its operations in March and filed for bankruptcy, said Tuesday that it has agreed to sell its majority stake in Ophthalmic Imaging Systems, a Sacramento maker of digital and image enhancement systems. Irvine-based Premier is selling its stake to Israel-based MediVision Medical Imaging Ltd. for $2.2 million in cash and $1 million in MediVision stock.
BUSINESS
February 13, 1998
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.
BUSINESS
November 30, 1999 | MARC BALLON, TIMES STAFF WRITER
Premier Laser Systems Inc., which has posted losses for more than five years, has tapped health-industry veteran Michael J. Quinn as president and chief executive. Quinn, 54, replaces founder Colette Cozean, who will remain chairman and chief technology officer of the Irvine-based developer of medical and dental lasers. Most recently, Quinn said, he helped steer Imagyn Medical Technologies, an Irvine developer of surgical products, out of bankruptcy.
BUSINESS
July 24, 1998 | Dow Jones
Premier Laser Systems Inc. said Thursday it received Food and Drug Administration clearance to market its Aurora diode laser systems for a deep-cleaning dental surgical procedure for soft tissue. The company said the laser removes diseased or inflamed soft tissue as part of an overall treatment plan to improve the health of gum tissue.
BUSINESS
May 6, 1997
Premier Laser Systems, an Irvine manufacturer of medical and dental lasers, posted a net loss of $5.6 million, or 96 cents a share, for the fiscal year ended March 31, compared with a loss of $5.8 million, or $1.26 a share, for the prior year. Sales climbed to $5.5 million from $1.7 million. For the fourth quarter, the Irvine-based firm lost $2.9 million, or 41 cents a share, compared with a net loss of $2.2 million, or 46 cents a share, for the fourth quarter of the previous year.
BUSINESS
May 6, 1998 | PATRICE APODACA, TIMES STAFF WRITER
A Premier Laser Systems Inc. shareholder has filed a lawsuit accusing the Irvine company of violating securities laws by issuing misleading information about its laser sales in hopes of inflating its stock. The complaint, filed Friday in U.S. District Court in Santa Ana, contends that Premier improperly booked shipments to a distributor as sales.
BUSINESS
September 2, 1999 | ROBIN FIELDS, TIMES STAFF WRITER
To the puzzlement of analysts and company executives, the stock of Irvine-based Premier Laser Systems Inc. more than doubled Wednesday in heavy trading after the maker of dental devices said its speedy new system for filling and whitening teeth had received regulatory approval. The company said its BluLaze product, which has been approved by the Food and Drug Administration, will sell for about $5,000 and will debut Sept. 16 at a dental conference.
BUSINESS
March 14, 2000 | Marc Ballon
The Nasdaq stock market has halted the trading of Premier Laser Systems Inc. shares until the Irvine-based firm, which filed a bankruptcy petition last week, provides "additional information." Premier shares last traded Friday at $1. Officials at the dental and vision laser maker could not be reached for comment Monday. Once the darling of Wall Street, Premier filed for bankruptcy reorganization Friday amid mounting losses, lawsuits and layoffs.
BUSINESS
March 11, 2000 | MARC BALLON, TIMES STAFF WRITER
Premier Laser Systems Inc., which recently shut down operations and laid off most of its 80 workers, filed for bankruptcy reorganization Friday as executives prepared to sell off various company assets. Chief Executive Michael J. Quinn, who had joined the Irvine company three months ago to launch a recovery effort, said he has put the company on the block. "I thought I would be able to fix this thing and live happily ever after," he said. "Unfortunately, the circumstances were beyond my control."
BUSINESS
March 2, 2000 | MARC BALLON, TIMES STAFF WRITER
Struggling Premier Laser Systems Inc., edging closer to bankruptcy, said Wednesday it has laid off all but nine employees and has only enough cash to operate for a week. The once-promising maker of dental and vision lasers, which shut down operations and furloughed more than two-thirds of its 80 workers just two weeks ago, laid off an additional 13 Tuesday, leaving a skeleton crew at the Irvine headquarters, Chief Executive Michael J. Quinn said.
BUSINESS
February 19, 2000 | GREG HERNANDEZ, TIMES STAFF WRITER
Dental laser maker Premier Laser Systems Inc., which shut operations and laid off 68% of its work force this week, said Friday that a Sacramento company has backed out of a merger agreement. Irvine-based Premier said Ophthalmic Imaging Systems Inc., a maker of digital and image enhancement systems, terminated the previously announced merger agreement between the companies. In October, Premier Laser agreed to a swap stock to acquire the 49% of Ophthalmic that it doesn't already own.
BUSINESS
February 19, 2000 | GREG HERNANDEZ, TIMES STAFF WRITER
Dental laser maker Premier Laser Systems Inc., which shut operations and laid off 68% of its work force this week, said Friday that a Sacramento company has backed out of a merger agreement. The Irvine laser maker said Ophthalmic Imaging Systems, a maker of digital and image enhancement systems, terminated the previously announced merger agreement between the companies. In October, Premier Laser agreed to a stock swap to acquire the 49% of Ophthalmic that it didn't already own.
BUSINESS
February 17, 2000 | MARC BALLON, TIMES STAFF WRITER
The company that pioneered lasers used in the painless treatment of tooth decay said Wednesday that it has halted production, furloughed two-thirds of its work force and hired a consultant to consider its options, including possible bankruptcy reorganization. The batch of grim news at Premier Laser Systems Inc. in Irvine is the latest in a spiral of troubles at the once-promising maker of medical and dental lasers.
BUSINESS
February 16, 2000
The Irvine maker of diagnostic and therapeutic products for eye care, dentistry and surgery, said it lost $3.3 million, or 20 cents a share, for the fiscal third quarter, compared with a net loss of $12.1 million, or 81 cents a share, for the comparable quarter a year ago. Sales for the quarter ended Dec. 31 declined 31% to $2.4 million.
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