Bausch & Lomb
This article was originally published in The Tan Sheet
Executive Summary
Lens care sales fell 7.7% to $118.3 mil. in third quarter ended Sept. 29, "driven by the continued impact of trade customers' reductions in lens care inventory carrying requirements," firm announces. Nine-month category sales were $322.1 mil., down 13.7% from last year. B&L believes lens care business will stabilize by year-end, however, noting "sales patterns during the quarter indicate trade inventories are coming into balance with consumer demand." U.S. revenues, which represent 44% of total B&L sales, declined 10.5% to $213.2 mil. due to "challenging economic conditions." Consolidated sales remained flat at $433.6 mil., with net income up 8.8% to $16 mil
Lens care sales fell 7.7% to $118.3 mil. in third quarter ended Sept. 29, "driven by the continued impact of trade customers' reductions in lens care inventory carrying requirements," firm announces. Nine-month category sales were $322.1 mil., down 13.7% from last year. B&L believes lens care business will stabilize by year-end, however, noting "sales patterns during the quarter indicate trade inventories are coming into balance with consumer demand." U.S. revenues, which represent 44% of total B&L sales, declined 10.5% to $213.2 mil. due to "challenging economic conditions." Consolidated sales remained flat at $433.6 mil., with net income up 8.8% to $16 mil. |