Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : SNRS- Sunrise Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Joe who wrote (1783)	11/6/1998 5:42:00 PM
From: jerry simons	Respond to of 4140

Interesting article on the laser vision industry. Unfortunately, No mention of Sunrise go to iionline.com or read here Look Here -- Throw Away Those Glasses Craig Schneider (11/5/98) After several years of false starts, the laser vision correction (LVC) industry is finally coming into focus. LVC is something of a holy grail for the optically-challenged. LVC machines run a laser past the cornea, and voila, 20/200 vision instantly improves to 20/20. 40% Growth Expected The appeal of life without glasses or contact lens has empowered many individuals to look past the hefty $5,000 out-of-pocket expense. About 90,000 people had the procedure done in the second quarter of 1998 alone, more than double from the same period a year ago, according to an industry report by Dain Rauscher Wessels. As a result, the folks at Dain Rauscher figure the industry still has several years of more than 40% annual growth ahead of it. Another driver for growth: Microkeratomes, the instrument used to cut the flap on the top of the cornea in a new LASIK procedure with rapid visual recovery and low post-operative discomfort. Bausch & Lomb NYSE: BOL) entered the market with its purchase of Chiron Corp's (NASDAQ: CHIR) vision unit, but is having difficulties meeting the increased demand.More competitors are on the way with disposable microkeratome counterparts. 150 Million Affected Common vision disorders, such as astigmatism and myopia(nearsightedness),affect about 150 million individuals in the U.S. alone. About 50 million, or 30%,of them fit into DRW's financially capable" target market. Since LVC is rarely reimbursed by health insurers, however, it's a pricey proposition, though a number of doctors have been known to make discount arrangements with small health care plans, according to David Therkelsen, an analyst at DRW. Of the $25 billion worldwide optical market, the U.S is most coveted as LVC equipment manufacturers can garner up to $250 per procedure in patent royalties. But looming competition may change the industry's pricing structures as three or four additional entrants receive expected clearance in the next few months. The Players LaserSight Inc. (NASDAQ: LASE) will enter the U.S. market toting its more precise, narrow beam laser and other essential patents, ceded to it by part-owner TLC The Laser Center (NASDAQ: LZRCF), the world's largest provider of laser services. With 12 laser manufacturers abroad and only two in the U.S., the market should soon lose its oligopolistic status. Summit Technology (NASDAQ: BEAM) and VISX Inc. (NASDAQ: VISX) currently have the only FDA approved lasers, both wide-beam, and analysts expect them to aggressively defend their patent portfolios. Recently Nidek, a private Japanese company, successfully challenged VISX's U.K. patents -- a possible harbinger of legal wrangles to come in the U.S. VISX also recently said it has received FDA approval to treat farsightedness. Wade King at BancBoston initiated coverage last week of VISX with a "buy" rating. He sees the shares, currently at $54, heading up to $68 by the end of 1999, or 20 times his 2000 earnings per share estimate of $3.38. Summit has fallen 50% from its 52-week high of $8.24. Investors have become concerned that the company can't meet analysts' estimates. On October 29, Summit reported $22.3 million in revenue for its third quarter, below Piper Jaffray's expectations of $24.1 million. Net income of $0.01 a share was also below estimates. To boost sales, Summit recently bought Autonomous Technologies (NASDAQ: ATCI) for $87 million. "Summit needed more competitive technology" says analyst Parice C. Halbert of DRW, "and Autonomous needed cash, access to VISX's patents, and sales infrastructure." On Nov. 3, Autonomous beat out LaserSight by getting the first ever FDA approval for a narrow beam laser. Piper lowered its opinion of Summit, noting that the Autonomous acquisition will be highly dilutive to 1999 and 2000 earnings. Analysts currently estimate that the company will lose $0.20 per share in 1999. More analyst support surrounds Laser Vision Centers (NASDAQ: LVCI). The first publicly traded vision correction outfit to make money, Laser Vision announced in mid-October that U.S. laser revenue for the month of September increased 49% compared to the same month a year ago. Fiscal (April) 1998 sales of $23.5 million were 184% ahead of year-earlier levels. Although Laser Vision recently posted slightly profitable results, analysts figure the company can earn $0.30 a share in Fiscal 1999 and $0.50 a share in the subsequent year. Its stock is currently trading at $13.50. Bottom Line: We expect more competitive patents to be approved by the FDA, but think that current players are still expected to show rapid growth.

To: Joe who wrote (1783)	11/7/1998 3:12:00 PM
From: Joe	Read Replies (1) \| Respond to of 4140

I posted this on YAHOO. It sums up my thinking on SNRS and what I think will happen next week. IMO the shorts were depressing the price at least over the past several weeks while the private placement was being priced. The placement has been priced now and is based on the average price of the last 10 trading days prior to Friday. So what we saw yesterday was shorts starting to cover their positions. Since the short interest went from .8M to 1.3M this last month (I think those were the numbers), I would expect that at least .5M will be covering now. It started on Friday with maybe 100K shares being covered. The move we will see on Monday will be even higher volume than we saw yesterday. If there are a lot of new investors coming into the stock on Monday morning as I expect, based on the huge number of RSVP's Sunrise has at AAO on Sunday, and we have people out there trying to cover 400K shares, and the fact a lot of the weak hands have been flushed out of the stock by the prolonged depressed price, we have the potential for a nice run-up in price next week. If they announce the PMA submission, hang on for the ride! It will be a profitable one! Joe