Here they are:
Wednesday October 15 4:41 PM EDT
VISX Inc. Posts 3Q EPS of $0.32 vs. $0.35
VISX INC. Interim Consol. Earns.: Sept. '97--Thou. $
Ticker: VISX (news)
Highlight: INE
Date: 971015
3 Mos. to Sept. 30:
1997
1996
Revenues
17,967
19,667
Net income
5,055
5,613
*Sh. earns.
$0.32
$0.35
9 Mos.:
Revenues
49,305
50,776
Net income
+7,079
11,443
*Sh. earns.
$0.45
$0.72
dDeficit.
*As reported.
+Includes a charge of $4,500,000, or $0.25 per share, related to the settlement of patent disputes.
Oct. 15, 1997, VISX Inc. announced Sept. 1997 three-month earnings per share of $0.32 vs $0.35 for same period a year ago. Nine-month earnings of $0.45 vs $0.72 for same period a year ago.
Results for the 1997 nine-month period includes a charge of $0.25 per share related to the settlement of patent disputes.
Another:
VISX, Incorporated Announces Financial Results
SANTA CLARA, CALIF. (Oct. 15) BW HEALTHWIRE -Oct. 15, 1997--VISX,
INCORPORATED (Nasdaq NM Symbol: VISX) today announced financial results
for the third quarter and nine month period ended September 30, 1997.
Revenues for the third quarter of 1997 were $17,967,000 compared to $19,667,000 for the comparable period of 1996. Net income for the third quarter of 1997 was $5,055,000 or $0.32 per share, compared to net income of $5,613,000, or $0.35 per share, for the comparable period of 1996.
Revenues for the nine month period ended September 30, 1997 were
$49,305,000 compared to $50,776,000 for the comparable period of 1996.
Net income for the nine month period ended September 30, 1997 was
$7,079,000 or $0.45 per share, compared to net income of $11,443,000,
or $0.72 per share, for the comparable period of 1996.
In June, 1997 the Company settled all outstanding U.S. and
international patent disputes between itself and Summit Technology,
Inc. ("Summit"). The settlement required an exchange of payments
resulting in a net payment of $4,500,000 to Summit. The effect of this payment was to reduce net income by $0.25 per share in the nine month period ended September 30, 1997.
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 Nine Months Ended
9/30/97 9/30/96 9/30/97 9/30/96
System sales $ 9,213 $ 14,484 $ 27,486 $ 39,385
Royalties, service
and other revenue 8,754 5,183 21,819 11,391
Total revenues 17,967 19,667 49,305 50,776
Cost of revenues 5,111 7,662 16,133 21,904
Marketing, general and
administrative 5,621 4,227 16,808 12,869
Research, development
and regulatory 2,716 2,845 7,422 6,804
Total costs and
expenses 13,448 14,734 40,363 41,577
Income from operations 4,519 4,933 8,942 9,199
Interest and other
income, net 1,226 1,146 3,603 3,106
Litigation settlement -- -- (4,500) --
Other income
(expense), net 1,226 1,146 (897) 3,106
Income before income
taxes 5,745 6,079 8,045 12,305
Provision for income
taxes 690 466 966 862
Net income 5,055 5,613 7,079 11,443
Net income per share $0.32 $0.35 $0.45 $0.72
Weighted average number
of shares and
equivalents outstanding 15,753 15,840 15,814 15,988
Condensed Consolidated Balance Sheet
(in thousands)
9/30/97 12/31/96
(Unaudited)
Cash, cash equivalents
and short-term investments 94,881 88,990
Accounts receivable 18,317 17,904
Inventories 5,120 5,848
Prepaid expenses 961 553
Current assets 119,279 113,295
Property and equipment, net 4,122 3,621
Other assets 2,567 2,773
Total assets 125,968 119,689
Accounts payable 4,232 2,385
Accrued liabilities 17,431 18,032
Current liabilities 21,663 20,417
Stockholders' equity 104,305 99,272
Total liabilities and
stockholders' equity 125,968 119,689
-0- cs/sf*
CONTACT: VISX
Lola Wood, 408/733-2020
E-Mail: ir@visx.com
Web: visx.com
or
Lippert/Heilshorn
Jeffrey Volk, 212/838-3777
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: MEDICINE EARNINGS Today's News On The Net - Business
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I thought est. was .22. Comments?
Billie
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