Eye Laser Industry - VISX and Summit BEAM Info Message Board

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Biotech / Medical : Eye Laser Industry - VISX and Summit BEAM Info

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To: Jim Parkinson who wrote (75)	9/24/1996 11:39:00 PM
From: John Binford, Jr.	of 178

Good analogy with the contacts. I have contacts but rarily wear them because of discomfort (mild allergy problems seem to affect my eyes) and hassle. I would rather have PRK than contacts as the discomfort with PRK goes away within a week. However, I have an astigmatism and so I would have to wait until the FDA gets off their "..." and approves Visx for astigmatic corrections, (or go to Canada). Anyway, it appears the demand for PRK is picking up. I think it will continue to increase, and then the money will start to flow back into these stocks. Clearly, Visx is now the leader as Summit has self-destructed. It seems that money has been flowing back into Visx over the past week as it has pushed back up to $23. I also noticed on Zacks that one firm must have raised their opinion on Visx in the past 2 weeks from neutral to buy. I'm sure that if the PRK stocks get hot in the next few months that both Visx and Summit will rise. However, all of the lawsuits and mounting losses by Summit will be a major damper on its stock. I still favor buying Visx. They are making a good profit even in this early manufacturing stage. I believe the profits demonstrated by Visx in the last 2 quarters are indicative of the good conservative management at Visx. Many can increase revenues without making a profit, but Visx is managing to do both. And with the increasing PPP royalty revenue the bottom line of Visx should look pretty good. I would hope that Visx uses its new cash to do something about developing a future generation laser or consider purchasing an ATCI on the cheap. I still do not see Visx buying Summit out as I can't see Visx's management wanting to take on the problems that Summit has created.

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