On March 1, laser manufacturer IntraLase (NASDAQ:ILSE) released fourth-quarter earnings for the period ended Dec. 31.

  • 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%



Get back to basics with a look at the income statement.

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

*Expressed in percentage points.

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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%



Learn the ways of the balance sheet.

Cash Flow Highlights
A statement of cash flows was not provided. Boo!

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