IntraLase Corp.’s shares spiked Tuesday after the Irvine-based company posted third-quarter earnings results that beat Wall Street expectations.
IntraLase, which makes lasers used in surgeries to correct faulty vision, posted income of $2.4 million on revenue of $22.9 million in the third quarter, higher than analyst expectations of $1.7 million in profit on sales of $22.5 million.
The third-quarter profit was a turn from the $3.1 million loss IntraLase posted last year. Sales were 48% higher than a year ago.
The company’s shares were trading 15.6% higher to $16.32.
IntraLase said revenue from laser sales and surgeries were up, and that “ongoing market acceptance by refractive surgeons and patients is reflected in our financial results for the third quarter.”
The company also backed its previous earnings guidance for 2005.
IntraLase said it expects to earn between $10 million and $12 million on sales of more than $95 million. The fourth quarter is expected to account for half of its yearly profit because of “seasonally high demand for lasers (and) increasing international momentum,” the company said in a release.
On the international front, IntraLase started selling in China and Poland during the past quarter, bringing the number of countries that its lasers are available in to 24.
