Wednesday April 16 4:15 PM EDT
VISX, Incorporated announces financial results
SANTA CLARA, Calif.--(BUSINESS WIRE)--April 16, 1997--VISX, Incorporated (NASDAQ NM: VISX) today announced financial
results for the first quarter ended March 31, 1997.
Revenues for the first quarter of 1997 were $15,743,000 compared to $11,556,000 for the comparable period of 1996. Net income for the first
quarter of 1997 was $2,699,000, or $0.17 per share, compared to net income of $1,278,000, or $0.08 per share, for the comparable period of
1996.
VISX is a worldwide leader in the development of refractive laser technology. VISX systems are commercially available in the United States
and markets worldwide.
VISX, Incorporated
Condensed Consolidated Statement of Operations
(in thousands, except per share amounts)
(Unaudited)
Three Months Ended
3/31/97 3/31/96
System sales 10,097 9,479
Royalties, service and other revenue 5,646 2,077
Total revenues 15,743 11,556
Cost of revenues 6,464 5,772
Marketing, general and administrative 5,315 3,563
Research, development and regulatory 2,112 1,860
Total costs and expenses 13,891 11,195
Income (loss) from operations 1,852 361
Interest and other income, net 1,215 917
Income (loss) before income taxes 3,067 1,278
Provision for income taxes 368 --
Net income (loss) 2,699 1,278
Net income (loss) per share $0.17 $0.08
Weighted average number of shares
and equivalents outstanding 15,810 16,032
VISX, Incorporated
Condensed Consolidated Balance Sheet
(in thousands)
Unaudited
3/31/97 12/31/96
Cash, cash equivalents and short-term
investments 84,657 88,990
Accounts receivable 23,765 17,904
Inventories 5,303 5,848
Prepaid expenses 679 553
Current assets 114,404 113,295
Property and equipment, net 4,035 3,621
Other assets 2,742 2,773
Total assets 121,181 119,689
Accounts payable 2,717 2,385
Accrued liabilities 17,441 18,032
Current liabilities 20,158 20,417
Stockholders' equity 101,023 99,272
Total liabilities and stockholders'
equity 121,181 119,689
CONTACT: VISX, Incorporated
Lola Wood, 408/733-2020
Jeffrey Volk, 212/838-3777
E-Mail: ir@visx.com
Web: visx.com |
