Irvine-based BioLase Technology Inc. said Tuesday that it narrowed its first-quarter loss, but shares fell about 7% on the device maker’s revenue decline.
Sales dropped 11% to $15.1 million. Product and service revenue fell 16% to $14.1 million, with licensing fees and royalty revenue up tenfold to $960,000.
Investors sent shares down about 7% to close at $6.68 on the news.
BioLase, which makes lasers for dental and cosmetic uses, reported a first-quarter loss of $1.7 million, compared to $2.3 million a year ago.
The company’s shares have traded at $4.87 to $11 during the past year.
