They sell the equipment but about 2/3 of revenue is from licenses, fees, etc.(see 10Q below)
Sure glad I took the tax loss almost 4 weeks ago. I was going to buy it back as soon as 31 days had passed but now think I will wait to see procedure growth figures after new fees have been in effect. On CNBC they just said analysts were shocked by the amount of the price cut. I'm perplexed. Seems extreme. A graduated fee schedule which declines with increasing volume would have made more sense to me.
Bob
Company Filings
VISX INC
Form: 10-Q Filing Date: 11/10/99 Filing Index
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Three months ended Nine months ended
September 30, September 30,
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1999 1998 1999 1998
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(unaudited)
Revenues:
System sales.................................... $ 23,321 $ 12,183 $ 50,083 $ 29,178
License, service and other revenues............. 56,347 23,661 146,037 62,639
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Total revenues................................ 79,668 35,844 196,120 91,817
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Costs and Expenses:
Cost of revenues................................ 17,480 8,175 40,573 21,482
Marketing, general and administrative........... 19,235 9,171 41,296 21,825
Research, development and regulatory............ 4,599 2,655 11,550 7,872
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Total costs and expenses...................... 41,314 20,001 93,419 51,179
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Income From Operations.............................. 38,354 15,843 102,701 40,638
Interest and other income....................... 2,886 1,290 7,300 4,091
Litigation settlement........................... -- -- -- (35,000)
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Income Before Provision For Income Taxes............ 41,240 17,133 110,001 9,729
Provision for income taxes...................... 16,497 2,401 44,001 1,364
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Net Income.......................................... $ 24,743 $ 14,732 $ 66,000 $ 8,365
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Earnings Per Share
Basic........................................... $ 0.39 $ 0.24 $ 1.05 $ 0.14
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Diluted......................................... $ 0.36 $ 0.22 $ 0.97 $ 0.13
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Shares Used For Earnings Per Share
Basic........................................... 63,913 61,201 63,115 60,943
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Diluted......................................... 68,727 66,188 67,991 64,985
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