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Biotech / Medical : VISX
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To: Amy Feller who wrote (392)1/29/1998 11:35:00 PM
From: Charlie Smith  Read Replies (1) of 1754
 
Amy:

Certain Pillar Point revenues were NOT included in the quarter so a reserve could be created on the liability side of the balance sheet. Sort of like a deferred revenue account. This is from the CFO today. Co. would not give the size of reserve. Also, fully taxed earnings were $.30, so they matched estimates if you ignore the reserve.

On the conference call, the Chairman mentioned a doctor who switched over from a black box to a VISX laser, and was doing 120 procedures per day! Message to VISX mgmt.: CLONE HIM NOW!!!

Hope this helps,

Charlie
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