This article is more than 5 years old. Information may no longer be current.

AMO reports net loss of $7.6 million for fourth quarter 2006

Add topic to email alerts

Receive an email when new articles are posted on

Please provide your email address to receive an email when new articles are posted on .

Subscribe

Added to email alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

Back to Healio

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Back to Healio

SANTA ANA, Calif. — Advanced Medical Optics experienced a net loss of $7.6 million for the fourth quarter of 2006, compared with net earnings of $2.3 million for the fourth quarter of 2005, the company announced in a press release. The drop in profits was largely due to $25 million in charges stemming from the company's recall of 2.9 million units of its Complete multipurpose contact lens solution, the release said.

Net sales for 2006 increased 8.3% to $997.5 million, spurred by an 11.9% increase in IOL sales. Top-sellers included the Tecnis aspheric monofocal and refractive IOLs, ReZoom and Tecnis multifocal IOLs and Verisyse IOLs. Viscoelastic sales declined 6.1%, while phacoemulsification sales rose 5.7%.

Laser vision correction sales grew 76.9% to $216.9 million in 2006, reflecting the company's acquisition of VISX, growth in CustomVue procedures and strong international sales.

Eye care sales fell 13.1% in 2006 to $261.6 million due to the recall and declining sales of hydrogen peroxide solutions and other eye care products. The company anticipates further recall-related charges of $20 million to $25 million in 2007.

AMO issued a revenue guidance of $1.15 billion to $1.175 billion for 2007 and $1.35 billion to $1.37 billion for 2008. The guidance takes into account the company's intent to acquire IntraLase for $808 million and completed acquisition of WaveFront Sciences, according to the release.