The premarket action in the market is often a pretty good indication on how the rest of the day might pan out and hence it could be a good move to take a closer look at the Biolase Inc (NASDAQ:BIOL) stock.
The company was in the news last after it announced its financial results for the second fiscal quarter and on Friday, its stock has managed to clock gains of as much as 25%. In this situation, it might be a good move to take a closer look at the company’s financial results and the headline figure in this context is perhaps the loss of as much as $702,000.
However, when converted on a per share basis, the losses made by Biolase are only 1 cent a share. However, when the same is adjusted for gains, which are of a non-recurring nature, the losses jump to 2 cents a share. On the other hand, the California based company posted revenues of $9.1 million for the quarter and the performance seemed to have impressed investors. The stock started rallying towards the end of the trading day on Thursday and it now remains to be seen if the Biolase stock can continued to add to its gains today.