B&L posts gains in third quarter

ROCHESTER, N.Y. — Bausch & Lomb recorded $508.8 million in worldwide sales during the third quarter of 2003, an increase of 9% over the same quarter the previous year, according to an earnings release from the company. Reported net earnings for the quarter were $32.3 million, up from $9.4 million in the year-ago period.

Third-quarter revenues in the United States were $212.4 million, representing 42% of consolidated sales, the company announced. Worldwide revenue from contact lenses increased 13% to $154.9 million, lens care products increased 7% to $131.2 million, pharmaceuticals increased 13% to $116.7 million, cataract and vitreoretinal products increased 6% to $77.5 million and refractive products decreased 5% to $28.5 million, the earnings release stated.

The pharmaceuticals product line “continued to be driven by the company’s lines of ocular vitamins,” including Ocuvite PreserVision, the company announced. Revenue gains in the cataract and vitreoretinal category reflected higher sales of viscoelastics, instruments and disposables. Increases in the Americas regions were offset by declines in the Asian region, the earning statement noted.

In the refractive category, higher per-procedure card and service revenues were negatively offset by declines in capital equipment sales and in microkeratome blade sales.

The company release predicted that recent U.S. approval of the Zyoptix customized wavefront system will lead to “substantial” fourth-quarter growth in this product category.

“Looking ahead to next year, our revenues should be in the mid-single digits,” said Ron Zarrella, chairman and chief executive officer, in the earnings release. “Our third-quarter results demonstrated sustained solid growth in the majority of our businesses, combined with continued progress in executing our cost-saving initiatives as well as a favorable currency environment.”