WINTER PARK, Fla., April 1 -- LaserSight Inc. announced financial results for the fourth quarter and year ended December 31, 1998. The Company also announced the completion of a $9 million equity private placement.
Revenues for the fourth quarter of 1998 were $3.3 million, compared with approximately $4.0 million for the same period of 1997, adjusted for the sale of LaserSight's two health care subsidiaries sold in December 1997. Excluding these adjustments, revenues for the fourth quarter of 1997 were $6.3 million. Revenues in the fourth quarter of 1998 were lower than in previous quarters in 1998 and the fourth quarter in 1997. This drop was due to the Company's obtaining CE Mark approval on the LaserScan LSX excimer laser system on September 30, 1998, which resulted in manufacturing and shipping delays to Europe, one of the Company's key markets.