EXHIBIT 99.1

 

 

 

FOR IMMEDIATE RELEASE

 

Investors:

Sheree Aronson

(714) 247-8290

sheree.aronson@amo-inc.com

 

Media:

Steve Chesterman

(714) 247-8711

steve.chesterman@amo-inc.com

 

ADVANCED MEDICAL OPTICS ANNOUNCES
FOURTH-QUARTER AND FULL YEAR 2005 RESULTS

 

Sales Increase 24% in 2005

 

(SANTA ANA, CA), February 14, 2006 – Advanced Medical Optics, Inc. (AMO) [NYSE: EYE], a global leader in ophthalmic surgical devices and eye care products, today announced financial results for the fourth quarter and full year of 2005.

 

AMO reported 2005 net sales of $920.7 million, a 24.1 percent increase over 2004. This reflected primarily the acquisition of VISX, Incorporated in May 2005 and the Pfizer ophthalmic surgical business in June 2004, as well as increased sales of its technologically advanced products, and the unfavorable impact of the company’s accelerated rationalization of non-strategic eye care and cataract products.

 

For 2005, AMO reported a net loss of $453.2 million, or a loss of $8.28 per share, compared to a net loss of $129.4 million, or a loss of $3.89 per share in 2004. Per-share results for 2005 were reduced by $9.73 due to the combined effect of after-tax charges of $536.9 million and the $0.43 effect of dilutive instruments. Similarly, per-share results for 2004 were reduced by $5.13 due to the combined effect of after-tax charges of $175.8 million and the $0.62 effect of dilutive instruments. The losses in both years were due primarily to charges related to acquisitions and recapitalizations, and the company’s product rationalization and business repositioning actions in 2005. The charges were partially offset in 2005 by unrealized gains on derivative instruments and tax benefits related to repatriation of foreign earnings under the American Jobs Creation Act of 2004.

 

“With the close of 2005, we finished our third full year as an independent company and, in this time, nearly doubled our sales and set AMO on a new and more promising course,” said Jim Mazzo, president and chief executive officer. “With leading market share positions, a comprehensive set of superior technologies and an increasingly efficient global infrastructure, the major pieces of our growth strategy are now in place. No company is more qualified or capable than AMO to provide practitioners and patients the products and support necessary to

 

- more -

 


The following information was filed by Abbott Medical Optics Inc on Tuesday, February 14, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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