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IntraLase reports net income of $12.5 million for fourth quarter of 2006

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IRVINE, Calif. — IntraLase reported net income of $12.5 million for the fourth quarter of 2006, which included a one-time $11.1 million tax benefit from the release of the company's deferred tax valuation allowance. Net income totaled $3.8 million for the same period in 2005, according to a press release from the company.

Revenues for the fourth quarter 2006 totaled $37.4 million, representing a 37% increase over the same period in 2005. The increase was led by global sales of its IntraLase FS laser, according to the release.

Fourth quarter expenses included a large portion of the company's $9.6 million settlement with Escalon Medical, as well as costs related to Advanced Medical Optics' pending acquisition of the company.

Revenues for the full year 2006 totaled $131.9 million, a 40% gain over 2005, driven by the sale or lease of 204 lasers. Net income for 2006 totaled $24.3 million, compared with $9.5 million for 2005, according to the release.