Hey, Xavier. 1/4 point fluctutioin? Beats me.
But LVCI should be cash flow positive in late '97, and in the black in '98, with big growth thereafter. Why?
Roll-on/roll-off will allow them to triple volume per laser at low-volume sites from 10/week to 30/week, by sharing a laser between sites. VisX is about to get astig approval, which will mean volume will go up 50%, since 30% myopes turned away now, and lots on waiting list. MobilExcimer may be aproved this year.
If all these things continue/happen, they'll be cash flow positive by Q4, and making money next year, which should see 300,000-500,000 procedures industrywide, since astig approval means advertising should begin in earnest, by VisX at least. That's VisX's intention.
Preferred to common? Don't worry, why would people be in a selling mood, when things are about to take off? Besides, LVCI likes the conversion, because it gives them more equity. |
