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AMO reports strong second quarter sales

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SANTA ANA, Calif. — Advanced Medical Optics Inc. reported sales of $257 million for the second quarter of 2006, a 13.2% increase over the second quarter of 2005, according to a press release.

The company reported a net loss for the quarter of $2.7 million, or $0.04 per share, under Generally Accepted Accounting Principles (GAAP). This is up from a GAAP net loss of $438.1 million, or $9.53 per share, for the second quarter of 2005.

Cataract and implant sales for the quarter totaled $134.4 million, up 5.2%. AMO said the company attributed this growth primarily to increased sales of premium-priced refractive and monofocal IOLs, such as its Tecnis lens, as well as continued growth of phacoemulsification products. IOL sales increased 11.4% to $75.1 million, and refractive IOL sales totaled $11.9 million, a 15.8% increase over the first quarter of 2006.

Phacoemulsification sales rose 8.8% to $22.2 million. However, viscoelastics sales declined 5.4% to $32.8 million, due primarily to lost sales from discontinued product lines and reimbursement pressures in certain European markets and in Japan, according to the release.

Laser vision correction sales totaled $53.4 million for the quarter compared to $16.3 million for the second quarter 2005. System sales increased 451.6% to $9.7 million or 57.6% on a pro forma basis.

Eye care sales declined 16.7% to $69.2 million for the second quarter. Specifically, multipurpose solution sales declined 4.7% to $42.9 million, although U.S. sales of AMO’s complete MoisturePLUS brand more than doubled, mainly due to the withdraw of a competitor’s product. Sales of hydrogen peroxide solutions declined 20.1% to $16.0 million, while sales of other eye care products declined 42.7% to $10.4 million.