On March 1, laser manufacturer IntraLase
- Revenue increased by nearly 37% to $37 million, supported by global sales of the IntraLase(R) FS laser. Sales of disposable items only used on one patient increased by 54%.
- Operating margin saw a huge reduction, to a mere 0.7%, particularly because of a large increase in R&D expenses.
- Net income managed to increase by more than 200% in spite of the fall in margins, thanks to income tax provision benefits of $11 million.
- IntraLase is getting bought out by Advanced Medical Optics
(NYSE:EYE) for $800 million cash, or $25 per share. The transaction should close early next quarter.
(Figures in thousands, except per-share data)
Income Statement Highlights
Q4 2006 |
Q4 2005 |
Change |
|
---|---|---|---|
Sales |
$37,399.9 |
$27,361.1 |
36.7% |
Net Profit |
$12,540.7 |
$3,828.6 |
227.6% |
EPS |
$0.40 |
$0.12 |
233.3% |
Diluted Shares |
31,416.3 |
31,068.8 |
1.1% |
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Margin Checkup
Q4 2006 |
Q4 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
56.0% |
53.4% |
2.6 |
Operating Margin |
0.7% |
11.5% |
(10.9) |
Net Margin |
33.5% |
14.0% |
19.5 |
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Balance Sheet Highlights
Assets |
Q4 2006 |
Q4 2005 |
Change |
---|---|---|---|
Cash + ST Invest. |
$81,597.2 |
$46,198.7 |
76.6% |
Accounts Rec. |
$26,879.0 |
$13,575.8 |
98.0% |
Inventory |
$14,685.1 |
$13,472.0 |
9.0% |
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Cash Flow Highlights
A statement of cash flows was not provided. Boo!
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