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Visx income up 25% in first quarter

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SANTA CLARA, Calif. — Visx reported an increase in total revenue to $51.3 million for the first quarter of 2005, up 17% compared with the same period in 2004, according to a company press release. Net income increased 25% to $14.7 million for the quarter, the company announced.

Licensing and other revenues increased 16% in the first quarter of 2005 compared with 2004, “reflecting both market growth and continuing strong conversion to CustomVue procedures,” the company noted.

The Star laser system had revenue growth of 26% over the same quarter in 2004.

During the first quarter, the company introduced two new products for refractive surgery: CustomVue for mixed astigmatism and iris registration software. Visx said it is the only U.S. provider to offer wavefront driven treatment for all forms of astigmatism.

Visx said it expects to begin U.S. shipments of its iris registration system in the next quarter. Further, the company expects to introduce a CustomVue program for high myopia this fall, pending Food and Drug Administration approval.

Earlier this week, Visx and Advanced Medical Optics announced that they have chosen May 26 as the date for their special meetings of stockholders concerning their planned merger. Anticipating the merger, the two companies shared booths in the exhibit hall at the American Society of Cataract and Refractive Surgery meeting.