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Biotech / Medical : VISX -- Ignore unavailable to you. Want to Upgrade?

To: Amy Feller who wrote (392)	1/29/1998 11:35:00 PM
From: Charlie Smith	Read Replies (1) \| Respond to 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

To: Amy Feller who wrote (392)	1/29/1998 11:50:00 PM
From: Vector1	Respond to of 1754

Amy, Analysts were happy. Indeed both HQ and Paine Webber submitted reports today reaffirming their buy recs on the stock which is insanely cheap. The following is from the Paine Webber report dated today: 3. We continue to rate VISX a buy (1), based on what we view to be extremely bullish prospects for the LVC industry and the company's very liquid balance sheet ($6.50 per share in cash). Our 12-month target price stands at $32-$33 (see valuation below), 65% above its recent close.