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AMO reports 4.2% increase in net sales for third quarter

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SANTA ANA, Calif. — Advanced Medical Optics Inc. reported net sales of $258.6 million for the third quarter of 2006, up 4.2% from the same period last year.

Cataract/implants sales grew 4% to $125.2 million, driven mainly by a 10.3% increase in IOL sales. Compared to the third quarter of 2005, the company saw a 200% sales increase for its Tecnis monofocal IOL and a 97.7% sales increase for its refractive IOLs, according to an AMO press release.

Laser vision correction sales grew 1.2% to $50.8 million. The company attributed the growth to increased international demand for CustomVue treatments, which offset a decline in U.S. treatments. Eye care sales grew 6.4% to $82.6 million, spurred mainly by a 35% growth in Complete MoisturePlus solution sales in the U.S., according to the release.

The company lowered its adjusted earnings per share projections for 2006 to a range of $1.85 to $1.90 from a previous range of $1.90 to $1.95. The change is primarily due to slower-than-expected refractive implant and U.S. laser vision correction procedure growth and to "pricing pressures on conventional cataract products in certain international markets," company officials said in the release.