October 24, 2003
Young Innovations, Inc. Ranked 92nd on Forbes List
Young Innovations, Inc. (NASDAQ:YDNT) today announced that it was named to Forbes Magazine's list of "Best 200 Small Companies in America". Alfred E. Brennan, President and Chief Operating Officer, said, "This marks the fifth consecutive year that we have received this award. We are pleased to once again be recognized by Forbes for our consistent record of growth."
Young Innovations develops, manufactures and markets supplies and equipment used by dentists, dental hygienists, dental assistants and consumers. The Company's product offering includes disposable and metal prophy angles, prophy cups and brushes, panoramic x-ray machines, dental handpieces (drills), orthodontic toothbrushes, flavored examination gloves, children's toothbrushes, children's toothpastes, moisture control and infection control products. The Company believes it is the leading manufacturer and distributor of prophy angles and cups (used in teeth cleaning and polishing procedures) in the United States. The Company also believes it is the leading distributor of panoramic X-ray equipment and dental surface disinfectants in the United States.
Investors are cautioned that this press release as well as other reports and oral statements by Company officials may contain certain forward-looking statements as defined in the Private Securities Litigation and Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions and which include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions. These statements are not guaranties of future performance and the Company makes no commitment to update or disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements. Because such statements involve risks and uncertainties, actual actions and strategies and the timing and expected results thereof may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, those disclosed in the Company's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.
October 24, 2003
BIOLASE Third Quarter Earnings Release
BIOLASE Technology, Inc. (NASDAQ:BLTI) , a medical technology company that develops, manufactures and markets lasers and related products focused on improving dental procedures, today announced that it will release its financial results for the third quarter and nine months ended September 30, 2003 on Wednesday, October 29, 2003 after the market close.
BIOLASE management will host a conference call on Thursday, October 30, at 11:30 a.m. EST (8:30 a.m. PST) to discuss its financial results for the recent quarter and to answer questions.
To listen to the conference call live via the Internet, visit BIOLASE's web site at www.biolase.com . Please go to the web site 15 minutes prior to its start to register, download, and install the necessary audio software. A replay will be available on BIOLASE's web site.
To participate in the live call, please dial (800) 901-5259 from the U.S. or, for international callers, please dial (617) 786-4514, passcode #76510572, approximately 15 minutes before the start time. A telephone replay will be available for one week by dialing (888) 286-8010 from the U.S., or (617) 801-6888 for international callers, and entering passcode #14823973.
October 24, 2003
Align Technology, Inc. Reports
Align Technology, Inc. (NASDAQ:ALGN) , the inventor of Invisalign(R), a proprietary method of straightening teeth without wires and brackets, today reported financial results for the third quarter of 2003. Total revenues for the third quarter of 2003 were $34.0 million, compared to $29.2 million in the second quarter of 2003, an increase of 16.5 percent, and $17.4 million in the third quarter of 2002, an increase of 95.9 percent.
"We are pleased to report our first profitable quarter on a non-GAAP basis," stated Thomas M. Prescott, Align Technology's President and CEO. "While achievement of this important milestone signifies the enormous progress made over the past six quarters, we still have much to do towards our goal of building a truly great company. Align is focused on becoming the most important part of our customers' practices and helping them provide outstanding clinical results to happier patients. As we meet or exceed their high expectations, we expect our business to accelerate and our shareholders to benefit."
The net loss for the third quarter of 2003 as determined under generally accepted accounting principles ("GAAP") was $2.1 million, or a net loss per share of $0.04. This compares to a net loss for the second quarter of 2003 of $7.8 million, or a net loss of $0.13 per share, and a net loss for the third quarter of 2002 of $17.8 million, or a net loss of $0.38 per share.
The non-GAAP net profit for the third quarter of 2003, which excludes $3.4 million of stock-based compensation, was $1.2 million, or non-GAAP earnings per share of $0.02. This compares to a non-GAAP net loss of $3.4 million in the second quarter of 2003, which excludes $4.4 million of stock-based compensation, or a non-GAAP net loss of $0.06 per share. This also compares to a non-GAAP net loss of $11.0 million in the third quarter of 2002, which excludes $6.8 million of stock-based compensation and restructuring charges, or a non-GAAP net loss of $0.24 per share. The reconciliation of the GAAP to non-GAAP measurements for net loss for the third quarter of 2003 is set forth below within Align Technology's financial statements.
As of September 30, 2003 Align had $42.7 million in cash, cash equivalents and marketable securities, compared to $38.4 million as of June 30, 2003. Align Technology did not incur additional borrowings or draw-downs against its credit facility during the third quarter of 2003.
Align Technology will host a webcast and conference call today, October 23, 2003 at 10:00 a.m. EDT, 7:00 a.m. PDT, to review third quarter of 2003 results and discuss future operating trends and guidance on the outlook for the future. To access the webcast, click on "Conference Calls" on Align Technology's Investor Relations website at http://www.invisalign.com/US/html/corporate/investor_frameset.html . To access the conference call, please dial 415-537-1980 approximately ten minutes prior to the start of the call. If you are unable to listen to the call, an archived webcast will be available beginning approximately one hour after the call's conclusion and will remain available through 5:30 p.m. EDT on October 22, 2004. Additionally, a telephonic replay of the call can be accessed by dialing 800-633-8284 with reservation number 21161382. The replay may be accessed from international locations by dialing 402-977-9140 using the same reservation number. The telephonic replay will be available through 5:30 p.m. EDT on November 6, 2003.
October 24, 2003
Henry Schein to Exclusively Distribute New Brite Smile To Go(TM) to Dental Professionals
Henry Schein, Inc. (NASDAQ:HSIC) and BriteSmile (NASDAQ:BSML) today announced a new agreement to offer dental offices around the country the latest innovation in teeth whitening. Henry Schein's U.S. Dental business, Sullivan-Schein Dental, has been named exclusive distributor to dental professionals for BriteSmile To Go, which allows patients the ease of at-home whitening combined with the effectiveness for which BriteSmile, a leader in professional teeth whitening, is known. Terms of the agreement were not disclosed.
BriteSmile To Go allows patients to whiten their smile whenever and wherever they like with the use of a convenient, lightweight "whitening pen." BriteSmile To Go's click pen applicator applies a clear, proprietary, time- release whitening formula that dries rapidly on the surface of teeth to whiten them safely and gently. Within seconds, the user has forgotten that it is even there. BriteSmile To Go will compete in the middle of the market, between high-end light-activated products used in office settings and lower-end over- the-counter products.
"The $1.5 billion market for teeth-whitening products and services has grown 300 percent over the past five years, and is the most exciting segment of the dental industry today," said John L. Reed, CEO of BriteSmile. "BriteSmile To Go will help us further expand the market, and with a strategic distribution partner such as Sullivan-Schein Dental, whose reach into the dental community is unsurpassed, we are confident in this product's success."
Sullivan-Schein Dental is a dental industry leader in sales and offers one of the broadest selections of healthcare products and services to dental practitioners. The Company now serves more than 75 percent of the dental practices in the United States through its more than 700 field sales representatives and more than 70 equipment sales and service centers.
"At Henry Schein, we constantly strive to bring the latest in technology and the most innovative new products to our customers, and our new relationship with BriteSmile is evidence of that commitment," said Stanley M. Bergman, Chairman, Chief Executive Officer and President of Henry Schein. "Our highly trained field sales consultants and telesales representatives recognize the benefits that BriteSmile To Go can deliver to patients, and are eager to make it available to our dental customers. We are delighted to have been selected by BriteSmile as exclusive distributor for this new, innovative product in an expanding product category."
Beyond the distribution agreement, BriteSmile also is supporting the product with a significant marketing investment in television and online advertising, consumer direct mail, public relations, and a full professional program.
October 24, 2003
Gene Therapy Rebuilds Bone, Tissue in Dental Patients
Gene therapy is most often associated with complex medical conditions, yet experts predict that within the next dozen years, it may make its way into the dental office.
Speaking here at the American Dental Association's 144th Annual Session, William Giannobile, D.D.S., D.Med.Sc., associate professor of dentistry and Director of Clinical Research at the University of Michigan, discussed the findings of one of his most recent gene therapy studies to help restore damage caused by severe gum disease, a chronic bacterial infection that destroys the gums and bone supporting the teeth. As the disease progresses, teeth can become loose and may have to be removed. The clinical practice of gene therapy involves the transfer of a foreign gene in order to correct inherited genetic disorders or treat life-threatening conditions.
Dr. Giannobile and his team inserted a gene called bone morphogenetic protein that encodes a bone-stimulating factor into an inactivated virus. The virus then transferred the genes into grown skin cells. In animal studies, these genetically engineered cells were transplanted into large bone defects surrounding the teeth, which regenerated tooth-supporting structures, such as the jawbone, ligaments and the protective coating on tooth roots called cementum.
Human studies are needed to confirm whether gene therapy is feasible in humans, Dr. Giannobile cautions. Clinical human gene transfer studies for head and neck cancer treatment are already underway. Experts in the dental application of gene therapy say patients with these conditions will be among the first to undergo gene therapy to repair damaged salivary glands due to cancer radiation treatment or because of the autoimmune disease, Sjogren's syndrome.
In time, experts predict common dental conditions such as oral ulcers, delayed tooth eruption, gum disease, bone loss and jaw disorders, such as TMJ, will also be treated with gene therapy. There may even come a day when gene therapy will prevent the build up of plaque, that sticky film of bacteria that coats teeth and contributes to tooth decay. Since many diseases involve multiple genes or interactions between genes and the environment (as is the case with gum disease and the disease that causes tooth decay), advances in gene therapy may take some time. Nevertheless, experts are optimistic that by 2015, dentists will be able to use gene therapy as one of their patient treatment options.