VISX Reports Record Earnings
Business Editors & Health/Medical Writers
SANTA CLARA, Calif.--(BW HealthWire)--Jan. 19, 2000--VISX,
INCORPORATED (Nasdaq:VISX) today announced financial results for the
fourth quarter ended Dec. 31, 1999.
Revenue for the fourth quarter of 1999 was $75,132,000 compared
to $41,933,000 for the comparable period of the prior year. Net income
was $25,768,000, or $0.38 per share, in the fourth quarter of 1999
compared to net income of $17,225,000, or $0.26 per share, in the
comparable period of the prior year.
Revenue for the year ended Dec. 31, 1999 was $271,252,000
compared to $133,750,000 for the prior year. Net income was
$91,768,000, or $1.35 per share, for the year ended Dec. 31, 1999
compared to net income of $25,590,000, or $0.39 per share, for the
prior year.
Commenting on the financial results, Mark Logan, Chairman and CEO
of VISX, said, "The fourth quarter sets a new record for sales of our
STAR S2(tm) laser systems, both in the U.S. and international markets.
We are pleased that, in an increasingly crowded and competitive
market, we continue to maintain our leadership based on advanced
technology, broad FDA approvals and superior service."
Mr. Logan continued, "The Company enters the year 2000 with
excitement about the rapid acceptance and growth of laser vision
correction and confident in a unique business plan that aligns our
success with that of our customers."
The foregoing contains statements that are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements are based on management's current
expectations and actual results could differ materially. Factors that
could affect the Company's business include: fluctuations in customer
orders for systems and VisionKey(R) cards, acceptance of the laser
vision correction procedure in the market, competition from other
laser systems (a number of which have now received FDA pre-market
approval for United States commercial sale), competition from other
vision correction products and procedures that are currently in use or
that may be developed and introduced in the future, the degree to
which VISX is successful in generating royalty income from its patent
rights or in enforcing its patent rights, and developments in pending
or future patent and antitrust litigation. Additional discussion of
factors affecting the Company's business is contained in the Company's
most recent filings with the Securities and Exchange Commission,
including VISX's Annual Report and Form 10-K for the year ended Dec.
31, 1998 and VISX's Forms 10-Q for the quarters ended March 31, 1999,
June 30, 1999 and Sept. 30, 1999.
VISX is a worldwide leader in the development of refractive laser
technology. VISX systems are commercially available in the United
States and markets worldwide.
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