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Biotech / Medical : Summit Technology (BEAM) -- Ignore unavailable to you. Want to Upgrade?

To: ajs who wrote (780)	3/22/1998 10:24:00 PM
From: pappy	Read Replies (1) \| Respond to of 1386

Nothing new that I know of. However, I spoke with an individual from Summit on March 19, 1998 (won't disclose any name) but this is what was commented on: Conversation started with, " in my personal opinion:" 1. PPP will probably be dissolved within a month to a year and both companies can go their own way. Just one or two rough spots that need to be resolved. However, that's fine because this individual is confident with BEAM's future (especially with approval of astigmatism and increases in procedural volume) and knows that BEAM will not only keep on improving and be successful but welcomes the break from all the litigation and ill-will between the 2 companies. This individual did say that VISX does hold a larger patent portfolio (58% to 42%). Indicated licensing agreements would stay in effect and past withheld royalties from LASIK procedures would be resolved as part of the dissolution agreement. Also, something about there would be some type of clause whereby VISX could bring no further lawsuits (didn't understand). 2. Litigation expenses are actually dropping and will drop even more when PPP is dissolved. 3. Indicated 4-5 Apex-Plus were sold this quarter with a 1998 projection of 40 machines with some sales in USA but most coming from Japan, India and other Asian countries. 4. BEAM will meet the analyst's earnings expectations (would not comment if BEAM would surpass those estimates). 5. Would not comment on the FTC investigation except to say its been ongoing for the last 2 years. 6. Indicated that most levels of astigmatism procedures fall between low to moderate (70-80 %) and that they expect approval for the higher levels of myopic astigmatism sometime in the 3rd or 4th quarter but it could come sooner). 7. Company still actively searching out an acquisition candidate and that the next generation laser manufacturer will be utilizing a solid state machine (no gas). However, I didn't quite understand what this individual was trying to tell me about this and a acquisition candidate. 8. Will BEAM or VISX be bought? "No". In closing, I can only state that this individual sounded sincere and the voice indicated no negative reaction to any of my questions and in my own opinion came across matter of fact. Either this individual is an exceptional liar (which I doubt) or is strong and confident about the company and its future. P.S. If there's any negative comments or bitching-don't respond to me...I really don't want to hear it...Call Summit and tell them...Pappy