Just remember that a text only image file should be edited in the PicLaser image editor for the engraving size based on the Pixel Resolution (step over) setting, then saved and reopened, then dithered (Threshold Algorithm?) and saved again.
If you want to speed up the engraving process, run your gcode file through PicFRC, so it will increase the feedrate in white areas and slow to burn the text.
John, our forum will not let you upload bmp format files. He could send it to the email address his registration email came from for us to test the format.