Irvine-based eye surgery laser maker IntraLase Corp., which is being bought by Santa Ana’s Advanced Medical Optics for $800 million, saw a surge in fourth-quarter sales, while profits were boosted by a tax issue.
Sales for the quarter were up 37% from a year earlier to $37.4 million. IntraLase makes a laser used to cut a flap in the eye’s cornea, the first step in laser vision correction procedures.
Global sales drove the revenue gain, according to IntraLase. The company sold or leased 56 lasers in the quarter, up from 44 a year earlier.
Net income was $12.5 million, driven largely by a onetime tax benefit of $11.1 million from a deferred tax valuation allowance.
Expenses in the quarter included part of a $9.6 million settlement and acquisition of intellectual property with Escalon Medical Corp. of Pennslyvania.
Earlier this week, IntraLase settled a dispute over a license agreement and royalties with Escalon.
IntraLase also saw legal and other costs from its pending acquisition by Advanced Medical Optics. The deal is expected to close this month.
