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AMO lowers outlooks for 2006 revenue and adjusted earnings per share

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SANTA ANA, Calif. — Advanced Medical Optics Inc. lowered its 2006 adjusted earnings per share guidance range to $1.90 to $1.95 from the previous range of $2.05 to $2.21. The company now expects 2006 revenue of $1.01 billion to $1.02 billion, the company announced.

AMO also lowered its revenue guidance to $1.1 billion, down from $1.12 billion. The company expects 2007 adjusted earnings per share to be approximately $2.60, according to a press release.

The company attributes the reduction to a slower-than-expected shift to premium-priced products, including slow adoption of refractive implants outside the United States and lower-than-expected domestic refractive laser procedures. Government reimbursement pressures in Europe and Japan, as well as recent strikes by European surgeons, also contributed to the reduction, according to the release.