IntraLase Posts Profitable 2005 First Quarter on Record Laser Placements, Strong Procedure Revenues; Revenues Exceed $21 Million, More Than Double a Year Ago; Sale of 39 Lasers Boosts Worldwide Installed Base to 254

Business Wire, April 28, 2005

IntraLase Corp.
Condensed Consolidated Statement of Operations


                                                Three Months Ended
                                             ------------------------
                                              March 31,     March 31,
                                                2005          2004
                                             ------------------------
Revenues -- product revenues (1)            $21,180,973    $9,484,731
Costs of goods sold (2)                      10,022,236     5,621,493
                                             ------------------------
Gross Margin                                 11,158,737     3,863,238
                                             ------------------------
Operating expenses:
    Research and development (2)              2,515,050     2,357,109
    Selling, general and administrative (2)   7,248,465     3,610,408
                                             ------------------------
      Total operating expenses                9,763,515     5,967,517
                                             ------------------------
Income (loss) from operations                 1,395,222    (2,104,279)
Interest and other income, net                  667,897        17,311
                                             ------------------------
Income (loss) before provision for income
 taxes                                        2,063,119    (2,086,968)
                                             ------------------------
Provision for income taxes                       66,903         7,500
                                             ------------------------
Net income (loss)                             1,996,216   ( 2,094,468)
Accretion of preferred stock                          -       (14,949)
Net income (loss) applicable to common
 stockholders                                $1,996,216  $( 2,109,417)
                                             ========================
Net income (loss) per share applicable to
 common shareholders -- basic (3)                 $0.07        $(0.97)
                                             ========================
Net income (loss) per share applicable to
 common shareholders -- diluted (3)               $0.06        $(0.97)
                                             ========================
Weighted average shares outstanding -- basic
 (3)                                         26,815,190     2,177,806
                                             ========================
Weighted average shares outstanding -- basic
 and diluted (3)                             31,126,618     2,177,806
                                             ========================


(1). Revenues from product sales are as follows:


Laser revenues                              $10,441,562    $3,967,253
Per procedure disposable patient interface
 revenues                                     9,027,950     4,727,907
Maintenance revenues                          1,711,461       789,571
                                             ------------------------
                                            $21,180,973    $9,484,731
                                             ========================


(2). Amounts include stock-based compensation, as follows:


Costs of goods sold                             $34,873        $1,195
Research and development                        (96,715)       54,861
Selling, general and administrative               3,057        49,503
                                               $(58,785)     $105,559


(3). All share and per share amounts for the three months ended March
31, 2004 have been restated to reflect the Company's reverse stock
split, which was consummated on July 12, 2004.


IntraLase Corp.
Condensed Consolidated Balance Sheet


                                              March 31,   December 31,
                                                2005          2004
                                             ------------------------
Assets:
    Cash, cash equivalents and marketable
     securities                             $77,261,056   $92,014,926
    Accounts receivable, Net                 10,688,694     7,186,163
    Inventories, Net                          9,129,126     8,901,684
    Other current assets                      3,573,070     1,868,186
                                             ------------------------
Total current assets                        100,651,946   109,970,959
                                             ------------------------
    Investments                              12,000,000             -
    Other long-term assets                    9,412,254     8,241,105
                                             ------------------------
Total long-term assets                       21,412,254     8,241,105
                                             ------------------------
Total                                      $122,064,200  $118,212,064
                                             ========================


Liabilities and Stockholders' Deficit:
Total current liabilities                   $16,405,060   $14,948,344
Total long-term liabilities                   1,033,219       970,115
                                             ------------------------
Total liabilities                            17,438,279    15,918,459
Stockholders' equity                        104,625,921   102,293,605
                                             ------------------------
Total                                      $122,064,200  $118,212,064
                                             ========================