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Visx year-end revenue down; market share retained

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SANTA CLARA, Calif. — The year-end financial results for Visx Inc. declined 15% for 2002 from the previous year, the company announced. The company attributes the decline to a drop in laser vision procedural volume stemming from unfavorable economic conditions.

Revenue for the fourth quarter was $36.1 million compared with $29.3 million for the fourth quarter of 2001. The company earned a net income of $3.9 million, or $0.07 per diluted share, in the fourth quarter of 2002. This compared with a net income of $4.2 million, or $0.08 per diluted share, for the fourth quarter of 2001.

Revenue for the 12-month period was $140 million, down from $165 million in 2001. Net income was $20.7 million for fiscal 2002. This compared with a net income of $11 million for fiscal 2001.

According to a company press release, Visx was still involved in 60% of the laser vision correction procedures performed in the United States, a market share it has held for the past 2 years.