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First quarter revenue, net income drop for Visx

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SANTA CLARA, Calif. — Visx’s first quarter revenue dropped to $34.4 million from $36.6 million compared with the comparable quarter a year ago, the company announced today. Net income also dropped to $5.5 million from $6.5 million compared with the same period a year ago.

Liz Davilla, chairman, president and chief executive officer, noted the company’s license revenue grew by 20%, beating internal estimates of 10% to 15% for the quarter. Additionally, she added, “we saw healthy operating margins of 24% this quarter, and for the past 3 years, we have achieved a 60% market share.”

Ms. Davilla said she believes the company has an opportunity to improve its financial results as it brings its wavefront excimer laser, CustomVue, to the market. CustomVue has not yet been granted U.S. marketing approval.