The turnaround has taken hold at Biolase Technology (NASDAQ:BLTI). After scores of consecutive unprofitable quarters, the maker of aesthetic dental lasers finally notched one in the black, and the recovery plan that started last year looks to have finally begun in earnest.

As the company itself noted, not only was this was the first time since 2004 that it reported a profit, but it also marks the second consecutive quarter that domestic revenues have grown over the prior year. It could be the start of a trend for the laser maker and shows that its deal with medical device distributor Henry Schein (NASDAQ:HSIC) is paying off.

Last quarter, Biolase agreed to make the distributor its exclusive agent and was paid a $5 million licensing fee for the privilege. The laser maker used the money to pay off its outstanding line of credit; it's now debt-free. With the ability to focus, laser-like, on growing its business, Biolase seems to have done just that.

Domestic sales rose 7% to $13.4 million, while international sales rose 1% to $6.5 million. The potential for overseas expansion remains strong. The current quarter's growth in international revenues pales beside last quarter's 84% jump, but the figure was still up 42% for the year and represented a healthy and significant 33% of total revenues.

Two drivers for future growth will be the disposable components for its laser systems as well as its deal for home-use products with Procter & Gamble (NYSE:PG). While the latter products are still a way off from introduction, the potential seems to be great. Other aesthetic-laser makers, such as Palomar Medical Technologies (NASDAQ:PMTI), are also pursuing home-use lasers for such various uses as acne care and wrinkle smoothing, and certainly, dental care would fit in with such developments.

Of more immediate use will be consumables, which can create a continuing revenue stream for Biolase. Like the razor-and-blade concept of shaving, disposable tips for hand pieces should be a boon for dentists. This area has already seen a 50% increase in revenues and will be a part of the new handheld "ezlase" system introduced last month.

As I pointed out last quarter, "With no long-term debt, a paid-in-full line of credit, a new two-year $10 million credit facility, and a tough new distribution agent, Biolase looks poised to whiten smiles with a blackened bottom line." The company has now moved to profitability, which makes a forward valuation seem skewed. With a firm financial footing in place, even after its shares have risen 50% in the past three months, Biolase could be an addition to your portfolio worth smiling about.

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Fool contributor Rich Duprey does not own any of the stocks mentioned in this article. You can see his holdings here. The Motley Fool has a disclosure policy.