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Visx announces second quarter 2003 earnings results, appoints new president and COO.
2003 AUG 18 - (NewsRx.com & NewsRx.net) -- Visx, Inc. has announced financial results for the second quarter ended June 30, 2003. Visx also announced that Douglas H. Post, 52, formerly Visx's executive vice president, operations, has been appointed president and chief operating officer.
Second quarter revenues were $31,986,000 compared with $36,639,000 for the comparable period of the prior year. Net income was $4,098,000, or $0.08 per diluted share, in the second quarter of 2003 compared with net income of $5,916,000, or $0.11 per diluted share, in the comparable period of the prior year.
CustomVue procedures exceeded expectations for the quarter, driving licensing revenue higher than Visx projected. At the same time, international laser system sales were weak due to political tensions and SARS related issues in the Asia Pacific region. This weakness was offset by the strong license revenue, which exceeded the company's seasonally strong first quarter license revenue and contributed to healthy gross margins of 64.4% and earnings per share at the high end of the company's guidance.
Revenue for the six months ended June 30, 2003, was $66,419,000 compared with $73,224,000 for the comparable period of the prior year. Net income was $9,574,000, or $0.19 per share, in the first six months of 2003 compared to net income of $12,419,000, or $0.23 per share, in the comparable period of the prior year.
For the third quarter of 2003, VISX believes that revenue will increase, with total revenue in the range of $34.5 to $36.0 million. Earnings per diluted ...
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