Premier Laser Systems Records Net Loss of $5.6 Million for Year

IRVINE — 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. Sales more than doubled to $1.6 million from $673,704.

The losses for the most recent fiscal year and fourth quarter included a write-off of $881,000 from the company’s investment in Mattan Corp. and $250,000 of acquired research and development. The loss for the year also included a $332,000 settlement related to a discontinued joint venture.