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AMO second quarter revenue up; net loss reported after Pfizer purchase
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SANTA ANA, Calif. — Advanced Medical Optics reported an increase of 10.9% in net revenue for a total of $168.7 million during the second quarter, according to a news release from the company. The increase reflects “strong growth in the company’s core ophthalmic surgical and eye care businesses and across all geographic regions,” the release said.
Because the company purchased Pfizer’s ophthalmic surgical business during the quarter, its net loss was $112.5 million, compared to a net income of $4.4 million in the same quarter 1 year ago.
“With the acquisition completed and our integration efforts well under way, we now expect 2004 revenue to be between $715 million and $725 million,” said Richard A. Meier, executive vice president of operations and finance and chief financial officer, in the release.
During the quarter, the company’s ophthalmic surgical revenue grew 10.7% to $86.7 million, compared to $78.3 million in the year-ago period. Total IOL revenue rose 7.3% to $55.8 million, reflecting sales increases in Sensar acrylic and Clariflex silicone IOLs.
Sales of the company’s phaco products grew 18.9% during the second quarter to $19.8 million, from $16.6 million in the year-ago period.
Revenue growth in AMO’s eye care business rose 11.2% to $82.1 million, from $73.8 million in the second quarter of 2003. Continued market penetration of the company’s Complete brand contact lens product line helped sustain the growth, according to the release.
Europe, Africa and the Middle East were the strongest areas of sales for AMO, according to the press release, with $60.3 million generated during the second quarter. Sales in the Americas were $49 million, followed by Japan at $43.4 million and the Asia-Pacific region at $16 million.