BIOLASE (BIOL) saw its loss widen to $4.43 million, or $0.07 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.46 million, or $0.04 a share. On the other hand, adjusted net loss for the quarter widened to $3.55 million, or $0.05 a share from a loss of $1.05 million or $0.02 a share, a year ago. 

Revenue during the quarter dropped 5.21 percent to $13.76 million from $14.52 million in the previous year period. Gross margin for the quarter expanded 29 basis points over the previous year period to 39.26 percent. Operating margin for the quarter stood at negative 29.90 percent as compared to a negative 15.67 percent for the previous year period.

Operating loss for the quarter was $4.11 million, compared with an operating loss of $2.28 million in the previous year period.

President and chief executive officer Harold Flynn, Jr. said "We made significant progress throughout 2016 in our most important strategic and operational goal��"transforming BIOLASE into an expansive and disciplined commercial enterprise. Although lumpy, we achieved 7% revenue growth globally for the year, highlighted by double-digit revenue growth in the U.S., our most important market, within all of our core laser business. We expanded our margins and significantly cut our operating cash burn rate while building out the leadership team to take us through the next phase of development. Perhaps the best evidence of transformation is our successful execution in product development. Today, we are off and running with two new laser systems that hold promise to significantly increase the global penetration of dental lasers: the Waterlase Express, our smallest, easiest to use, most-educational, customer supportive and affordable all-tissue laser system ever; and the Epic Pro, a diode laser system created through our promising collaboration with IPG Medical that offers advancements in cutting speed, control, and precision as well as improvements in consistency and predictability.

The company has spent $1.41 million cash to meet investing activities during the year as against cash outgo of $1.78 million in the last year.

Cash flow from financing activities was $9.35 million for the year as against cash outgo of $0.10 million in the last year period.

Cash and cash equivalents stood at $8.92 million as on Dec. 31, 2016, down 23.72 percent or $2.78 million from $11.70 million on Dec. 31, 2015.

Working capital declines
BIOLASE has witnessed a decline in the working capital over the last year. It stood at $15.97 million as at Dec. 31, 2016, down 18.89 percent or $3.72 million from $19.69 million on Dec. 31, 2015. Current ratio was at 1.89 as on Dec. 31, 2016, down from 2.30 on Dec. 31, 2015.