SANTA ANA, Calif.--Advanced Medical
Optics (NYSE: EYE) reported net profit of $87.15 million for its
third quarter ended Sept. 29, vs. a $31.2 million net loss in the
same period last year.
Net sales in this year’s Q3 were $258.6 million, up 4.2
percent. Advanced Medical Optics’ eyecare sales rose 6.4
percent in the period, to $82.6 million, spurred by a 17 percent
improvement in sales of multipurpose solutions.
In the first nine months of 2006, the company had net income of
$87.1 million, compared to a net loss of $455.5 million in
2005’s first three quarters. Those 2005 included $55.4
million in after-tax charges related primarily to the
company’s May 2005 acquisition of VISX.
Net sales in this year’s first nine months rose 12.9 percent,
to $753.9 million.
Jim Mazzo, Advanced Medical Optics’ chairman, president and
chief executive officer, said, “Market conditions in certain
high-margin segments and challenging pricing environments for some
of our cataract products have caused us to adopt a more
conservative outlook for the balance of 2006 and 2007.”
While the company’s forecast of full-year 2006 sales in the
$1,010 million to $1,020 million range remains the same, it is now
projecting sales in 2007 of from $1,080 million to $1,100 million,
down from an earlier forecast of $1,100 million.
October 2006
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