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B&L calls 2002 ‘beginning of the turnaround’

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ROCHESTER, N.Y. — Bausch & Lomb executives reported fourth quarter worldwide sales increases of 8% to $477.4 million, led by gains in the company’s contact lens, pharmaceutical and lens care product categories.

For the full fiscal year, the company’s reported net earnings were $72.5 million, compared with $21.2 million in fiscal 2001.

Chairman and chief executive officer Ronald Zarrella called 2002 “a year of improving operational execution and the beginning of the turnaround in our company.”

Fourth quarter contact lens revenues increased 13% over fourth quarter 2001. Lens care revenues increased 8% from the previous year. Pharmaceutical product revenue increased 12% from the previous year. Cataract surgery revenues were flat with the preceding year, and refractive surgery product revenues decreased 2% compared with fourth quarter 2001.