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BUSINESS
November 17, 1999 | Bloomberg News
Visx Inc., the No. 1 maker of vision-correction lasers in the U.S., accused rival LaserSight Inc. of wrongly using its patented invention for equipment used in optical surgery. Santa Clara, Calif.-based Visx says in a suit filed in U.S. District Court in Wilmington, Del., that it is the owner of a U.S. patent awarded in 1988 protecting an apparatus that scans the corneal surface of the eye and reshapes it with laser energy to correct problems such as nearsightedness.
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BUSINESS
February 11, 2005
* Visx Inc., the Santa Clara, Calif.-based maker of laser vision correction equipment, reported a lower fourth-quarter profit because of merger-related expenses. Visx, which in November agreed to be acquired by Advanced Medical Optics Inc., posted a net profit of $5.9 million, or 11 cents a share, compared with $8.8 million, or 17 cents, a year earlier. Revenue rose 6% to $40.4 million.
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BUSINESS
February 14, 2001 | From Bloomberg News
Visx Inc., a leading maker of lasers used in vision-correction surgery, said Tuesday that it named company President Elizabeth Davila to replace Chief Executive Mark Logan. Logan will remain chairman of the board until the next annual meeting, scheduled for May 1. Financier Carl Icahn, who has a 9.9% stake in the company, called for Visx to sell itself to a larger company during October discussions with Davila. Icahn has said he plans a proxy fight to seize control of Visx's board.
BUSINESS
May 24, 2003 | James F. Peltz, Times Staff Writer
Visx Inc., the leading maker of laser eye surgery gear, won federal approval Friday to sell a new technology that many believe will reignite growth in the eye-correction market. The Food and Drug Administration authorized the "wavefront-guided" system developed by Santa Clara, Calif.-based Visx for correcting nearsightedness and an eye malady called astigmatism. Visx is conducting human trials of its effectiveness on farsightedness.
BUSINESS
February 11, 2005
* Visx Inc., the Santa Clara, Calif.-based maker of laser vision correction equipment, reported a lower fourth-quarter profit because of merger-related expenses. Visx, which in November agreed to be acquired by Advanced Medical Optics Inc., posted a net profit of $5.9 million, or 11 cents a share, compared with $8.8 million, or 17 cents, a year earlier. Revenue rose 6% to $40.4 million.
BUSINESS
May 5, 2000 | Bloomberg News
Visx Inc., the No. 1 maker of lasers used to correct vision, said it will take a charge of about 12 cents a share against second-quarter earnings to settle antitrust and patent infringement lawsuits. The company said it paid about $12 million to settle antitrust claims made by eye-surgery and laser companies and a Texas physician who challenged the merits of one of Visx's patents. Shares of Visx have fallen 71% in the last year. The shares closed off 94 cents at $16.81 on Nasdaq.
BUSINESS
April 24, 2001 | From Bloomberg News
Visx Inc., the biggest maker of lasers used to correct vision, asked financier Carl Icahn to present details of his $1.84-billion buyout proposal to its board. Icahn, who has a 9.9% stake and is trying to oust the board and sell the Santa Clara company, on Friday offered $32 a share, a 54% premium to the shares' closing price the day before the proposal.
BUSINESS
December 11, 2000 | Bloomberg News
Visx Inc., the No. 1 maker of excimer lasers, said it is studying ways to boost the company's stock price, including a possible sale or merger. Visx hired Goldman, Sachs & Co. as financial advisor earlier this year, the company said in a release distributed by Business Wire. Chief Executive Mark Logan sent a letter to shareholders last week saying other options include an acquisition or alliance. The company's shares have plunged 71% this year, cutting its market value to about $897 million.
BUSINESS
July 29, 2000 | Reuters
Visx Inc., a maker of lasers used to correct vision, said longtime corporate raider Carl Icahn has filed to acquire up to 15% of its shares. Visx, based in Santa Clara, Calif., also said its board has adopted a stockholder rights plan. The rights go into effect only if a person or group acquires ownership of 10% or more of the company's common stock or commences a tender or exchange offer.
BUSINESS
June 9, 1998 | Bloomberg News
Visx Inc. said it will pay Summit Technology Inc. $35 million as the medical-laser companies settle lawsuits against each other and end their partnership. Santa Clara-based Visx and Summit, of Waltham, Mass., make lasers used to treat eye problems such as nearsightedness and farsightedness. Under their 1992 agreement, they were paying into a partnership and sharing revenue from eye operations using their lasers. The settlement ends months of legal wrangling over royalty payments.
BUSINESS
July 12, 2002 | Bloomberg News
Visx Inc., the biggest maker of lasers used to correct vision, reported a quarterly profit slightly below expectations and said earnings for the rest of the year will miss forecasts. The firm earned $5.92 million, or 11 cents a share, in the second quarter, compared with a loss of $10.7 million, or 19 cents, a year earlier, helped by cost-cutting. Analysts on average were expecting a profit of 12 cents. In the year-ago quarter, Visx had a cost of $37.
BUSINESS
November 21, 2001 | From Bloomberg News
Financier Carl Icahn renewed his efforts to oust the board of Visx Inc., the biggest maker of lasers used in eye surgery, and proposed for election a five-member slate that includes himself. Icahn and affiliates said in a letter dated Tuesday that they believe his nominees will be better able to "enhance stockholders' value." The letter was submitted with a filing to the Securities and Exchange Commission. "Mr.
BUSINESS
May 2, 2001 | From Times Staff and Wire Reports
Financier Carl Icahn dropped his effort to oust the board of Visx Inc., the biggest maker of equipment for laser eye surgeries, but left open the prospect that he--either alone or with others--might still launch a takeover bid for the company. Separately, a company bankrolled by Icahn made a buyout offer for New Hyde Park, N.Y.-based Morton's Restaurant Group Inc., which operates more than 60 restaurants, mostly as Morton's of Chicago steakhouses, including ones in Beverly Hills and Palm Desert.
BUSINESS
April 24, 2001 | From Bloomberg News
Visx Inc., the biggest maker of lasers used to correct vision, asked financier Carl Icahn to present details of his $1.84-billion buyout proposal to its board. Icahn, who has a 9.9% stake and is trying to oust the board and sell the Santa Clara company, on Friday offered $32 a share, a 54% premium to the shares' closing price the day before the proposal.
BUSINESS
April 21, 2001 | Reuters
Seasoned takeover specialist Carl Icahn offered to purchase Visx Inc. in a cash deal valued at about $1.9 billion, raising the stakes in his fight to force the laser-eye-correction equipment maker into a merger. Icahn said in a letter to the company that he would be "willing to engage in a cash merger with Visx" at $32 a share, a 54% premium to Thursday's closing price.
BUSINESS
April 13, 2001 | From Reuters
Biotechnology company Genentech Inc. on Thursday posted a 21% rise in first-quarter earnings per share before charges, matching Wall Street estimates, amid increased sales of its cancer drugs. South San Francisco-based Genentech also acknowledged that the launch of its allergy and asthma treatment Xolair could be pushed back to early next year from an original expected launch late this year. It blamed delays in the regulatory approval process.
BUSINESS
June 5, 1999 | Bloomberg News
Visx Inc. won an unexpected legal victory as a Federal Trade Commission judge in Washington dismissed a government complaint accusing the largest U.S. maker of vision-correction lasers of patent fraud. The news helped push Visx shares to an all-time high. Visx rose $17.13 to close at $71.88, after hitting a record $72.56 earlier in the day. The shares also benefited from news that the company would be included in the Nasdaq 100 index. Administrative Law Judge Stuart A.
BUSINESS
July 12, 2002 | Bloomberg News
Visx Inc., the biggest maker of lasers used to correct vision, reported a quarterly profit slightly below expectations and said earnings for the rest of the year will miss forecasts. The firm earned $5.92 million, or 11 cents a share, in the second quarter, compared with a loss of $10.7 million, or 19 cents, a year earlier, helped by cost-cutting. Analysts on average were expecting a profit of 12 cents. In the year-ago quarter, Visx had a cost of $37.
BUSINESS
April 5, 2001 | From Bloomberg News
Visx Inc., the biggest maker of lasers used in vision-correction surgery, said Wednesday that first-quarter earnings were higher than analysts forecast because revenue from licensing fees increased. Visx, based in Santa Clara, said it expects to report profit of 20 cents to 21 cents a share, higher than the 18-cent average estimate of analysts polled by First Call/Thomson Financial. The company said the revenue it receives from doctors who use Visx lasers increased 23% from the fourth quarter.
BUSINESS
February 16, 2001 | From Bloomberg News
Visx Inc., the biggest maker of lasers used in vision-correction surgery, on Thursday said the Federal Trade Commission dismissed a 1998 patent-fraud case against the company. The patent relates to use of an excimer laser to remove tissue from the cornea and improve vision. The procedure has become the most popular elective surgery in the U.S. FTC lawyers recommended in December 1999 that the case be dropped because the U.S.
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