VISX Message Board - Msg: 3300611

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Biotech / Medical : VISX

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To: pappy who wrote (395)	1/30/1998 8:49:00 AM
From: Charlie Smith	Read Replies (1) of 1754

pappy: <<The Company anticipates that procedures performed in the fourth quarter using VISX Systems will exceed its earlier expectations. Nevertheless, increased procedures by VISX users would not be sufficient to offset an expected shortfall in revenues from Pillar Point.>> Nothing sinister here, in my opinion. They reserved for a portion of the PP revs. in the quarter as advised by their outside consultant, and they may have to take further reserves in the future. Royalties were stronger than expected, allowing them to overcome weak machine sales (as expected) and a portion of the shortfall in PP revenues. Charlie

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