AMO’s mixed first quarter
This article was originally published in The Tan Sheet
Executive Summary
Advance Medical Optics' overall eye care sales are flat at $59 million (a 0.5 percent increase) during the firm's fiscal 2008 first quarter, according to a May 1 release. A 24.6 percent drop in multi-purpose solution sales, "reflecting recall-related impacts" (1"The Tan Sheet" Aug. 26, 2007, In Brief), cancelled out a 37 percent increase in other eye care sales, including the U.S. launch of Blink Tears, AMO's first OTC dry eye product, the firm says. Nonetheless, AMO's net sales rose 20.7 percent to $303.7 million during the first quarter - affirming the firm's 2008 expectations for revenues between $1.22 billion to $1.24 billion, according to the release...
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