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AMO reports $12.3 million net loss for fourth quarter 2007

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SANTA ANA, Calif. — Advanced Medical Optics reported a fourth quarter 2007 net loss of $12.3 million compared with a net loss of $7.6 million for the same period of 2006, the company announced in a press release.

The company attributed much of the loss to an estimated $29.2 million in lost sales resulting from the recall of its Complete MoisturePlus contact lens solution in May 2007.

For the fourth quarter, net sales for AMO totaled $304.6 million, up 25% from $243.6 million for the fourth quarter of 2006. The increase in sales was driven by several factors, including the company's acquisition of IntraLase Corp. and WaveFront Sciences, the release said.

Net sales for the full-year 2007 increased 9.4% to total $1.09 billion, also reflecting the company's IntraLase and WaveFront Sciences acquisitions, according to the release.

For the full year, AMO's laser vision correction sales increased 69.6% to $367.8 million, cataract/implant product sales increased 6.4% to $552 million and IOL sales increased 8.8% to $317.2 million.

Viscoelastic sales increased 0.3% and phacoemulsification sales increased 3.6%, while eye care product sales declined 34.6% to total $171 million for the full year, the release said.