Here is the reason for the jump in share price:
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Symbol(s) VISX & Date
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04/14 4:39P (DJ) =Visx Shrs Up 13% After Customer Reports Strong March Sales
Story 4954 (LVCI, VISX, I/HEA, I/MDS, N/DJN, N/DJWI, N/DJS, N/MMM, N/STK...)
By Louis Hau
NEW YORK (Dow Jones)-- Visx Inc.'s (VISX) shares rose 12.5% after a major
customer, Laser Vision Centers Inc. (LVCI), reported a 310% revenue jump in
March from lasers in the U.S. operating for at least a year.
That has fueled speculation that Visx may beat Wall Street expectations when
it reports first-quarter earnings after Wednesday's market close, market
observers said.
The First Call consensus projects first-quarter earnings from the Santa
Clara, Calif., company of 28 cents a share, compared with year-ago net income
of 12 cents a share.
Laser Vision Centers, a provider of excimer laser services to treat
nearsightedness and astigmatism, said it measured the revenue increase based
on the 23 lasers it had in operation in the U.S. in March 1997.
The company purchases all its lasers from Visx, which also receives a
royalty for every procedure performed. Overall, Laser Vision Centers said it
performed 3,000 surgical cases in the U.S. in March 1998 but didn't disclose
how much revenue it generated during the month.
Visx's shares climbed 3 5/16 to 29 3/4 on Nasdaq volume of 368,400. Average
volume is 234,300.
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