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Biotech / Medical : VISX
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To: James Fink who wrote (331)10/17/1997 6:34:00 PM
From: John Binford, Jr.   of 1754
 
James, cut the insults. Ask Summit how many machines they sold this past quarter? And Summit's misleading revenue line is built up by low or no margin sales.

Visx's gross margins improved year over year. Also, look at the improvement from the 2nd quarter. And look at the increase in cash of $10 million. Summit loses cash and Visx generates cash. Nobody cares about revenues just profit margins and profits.

For Summit to have as good a quarter as Visx they would have to turn in $.16/sh profit. I don't think they will do that. And Visx is trading at a price that is equivalent to Summit at $12.25. I would say Visx is easily worth a 50% premium over Summit.

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