We describe a low‐threshold, low‐internal‐loss, multiple‐quantum‐well ridge waveguide laser operating at 1.55‐&mgr;m wavelength and grown by chemical‐beam epitaxy. With a high‐reflection coating applied to one facet, it can operate CW to 100 °C. The laser exhibits single transverse‐mode output and 6‐GHz bandwidth. Processing utilizes a combination of self‐aligned reactive‐ion etching and wet chemical etching. Nearly 100% threshold and quantum efficiency yield of devices in bar form was obtained as a result of the excellent material uniformity, precision process control, and process uniformity over the wafer. This suggests that the present laser may be a potential candidate for low‐cost light source applications.