Biolase Technology, Inc. (NASDAQ: BLTI) soared more than 75% on Thursday after the company announced that, based on a preliminary review of its financial performance for the fourth quarter ended December 31, 2010, the Company expects to report net revenue ranging between $9.5 million to $10 million with positive net income excluding non-cash stock option expense. The company also issued annual revenue guidance for 2011 of net revenue in the range of $55 million to $60 million, a growth of approximately 120 percent to 140 percent over 2010, compared to analyst estimates of $40.4 million. Net revenue for the first quarter ended March 31, 2011, traditionally the lowest quarter of the year, is expected to range between $8.75 million to $9.25 million, up from $4.4 million in the first quarter of 2010, with positive net income. Effective January 19, 2011, BIOLASE's Board of Directors approved a stock dividend of one percent, payable March 31, 2011, to shareholders of record on March 15, 2011. In addition, the Board adopted a four percent annual stock dividend policy.
Shares of Dillard’s, Inc. (NYSE: DDS) surged as much as 15% after the company announced that it intends to form a wholly-owned subsidiary that will seek to operate as a real estate investment trust. Dillard’s believes the formation of a REIT may enhance its ability to access debt or preferred stock and thereby enhance its liquidity. It is intended that various Dillard’s entities will transfer to the REIT interests in certain real properties currently owned by the Dillard’s Parties, who will lease the Properties back from the REIT under “triple net” leases.
Isle of Capri Casinos, Inc. (NASDAQ: ISLE) plunged more than 18% on Thursday after the company announced the pricing of a registered underwritten public offering of 5,300,000 shares of its common stock at a price to the public of $10.25. The underwriter has a 30-day option to purchase up to an additional 795,000 shares from Isle to cover over-allotments, if any. Settlement of the offering is subject to customary closing conditions and is expected to occur on January 25, 2011. The Company intends to use the net proceeds from this offering to temporarily repay borrowings outstanding under its revolving line of credit. The Company also intends to use the remaining proceeds from the offering for general corporate purposes including, without limitation, to finance future capital expenditures.
Shares of GT Solar International, Inc. (NASDAQ: SOLR) rallied as much as 3% after the company announced that it has received a $33.3 million order from South Korea-based OCI Company, Ltd. for its sapphire crystallization furnaces. The order marks OCI's entrance into the fast-growing LED industry, and is GT Solar's first commercial sale of its sapphire crystallization furnaces into the important Korea LED market. OCI will use the furnaces to produce high quality sapphire material, the fundamental substrate material used to manufacture a wide range of LED products such as high brightness LEDs. The order will be included in GT Solar's backlog for its current Q4 FY11, which ends on April 2, 2011.
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