ROCHESTER, N.Y.—Bausch &
Lomb (NYSE: BOL) posted net profits in both the second quarter and
first half of 2007, after having had losses in both periods last
year related to its May 2006 recall of ReNu with MoistureLoc
contact lens solution.
In Q2, B&L had net earnings of $15 million, compared to a $15.1
million net loss in the same period last year.
Worldwide sales in the quarter reached $649.5 million, a 14 percent
increase (up 11 percent at constant currency rates). In the
Americas, B&L’s sales rose 9 percent (up 8 percent at
constant currency rates) to $272.8 million, aided by an 8 percent
increase in contact lens sales and a 4 percent boost (up 3 percent
at constant currency rates) in sales of lens care products.
In the first six months of this year, B&L’s net profit
was $33.5 million, vs. a $3.3 million loss in 2006’s first
half (earnings in last year’s first half were reduced by
$19.6 million due to the MoistureLoc recall).
Worldwide sales in this year’s first six months rose 10
percent (up 6 percent at constant currency rates) to $1.2 billion;
sales in 2006’s first half were reduced by $19.1 million due
to customer returns and sales reductions related to the recall. In
the Americas, B&L’s sales rose 3 percent to $514.9
million in 2007’s first six months.
B&L continues to project full-year sales for 2007 of about $2.5
billion, up 8 percent, compared to 2006’s volume before the
recall charges.
August 2007
Financial