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Last10K.com | 10-Q Quarterly Report Wed Aug 08 2007
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
| Investors: Sheree Aronson, Corporate Vice President, Investor Relations and Corporate Communications (714) 247-8290 sheree.aronson@amo-inc.com |
Media: Steve Chesterman, Manager, Corporate Communications (714) 247-8711 steve.chesterman@amo-inc.com | |
|
or
Mark Levin, Manager, Investor Relations (714) 247-8465 mark.levin@amo-inc.com |
ADVANCED MEDICAL OPTICS ANNOUNCES
SECOND-QUARTER 2007 RESULTS
| • | Integration of IntraLase Drove Pro Forma Laser Vision Correction Sales Growth of 17% on Strong Procedure Volume and Unit Placements |
| • | Eye Care Business Executed Multipurpose Solution Recall; Preparing for August Market Re-Entry Ahead of Previous Timeline |
| • |
Tecnis® Monofocal and Refractive Implant Sales Fueled 8% IOL Growth |
| • | Company Reaffirms 2007 and 2008 Financial Guidance |
(SANTA ANA, CA), August 2, 2007 – Advanced Medical Optics, Inc. (AMO) [NYSE: EYE], a global leader in ophthalmic surgical devices and eye care products, today announced financial results for the second quarter of 2007.
The company’s second-quarter 2007 net sales rose 1.7 percent to $261.4 million. The sales increases related to the April 2007 acquisition of IntraLase Corp. and organic growth were offset by lost sales and product returns related to the May 2007 MoisturePlus recall. Foreign currency impacts increased net sales by 1.7 percent.
AMO reported a second-quarter net loss under Generally Accepted Accounting Principles (GAAP) of $166.8 million, or a loss of $2.78 per share, which included the impact of the recall. These results also included the following items, which combined to increase the net loss per share by approximately $1.98:
| • | $85.4 million pre-tax, non-cash in-process research and development (R&D) charge and a $7.7 million pre-tax, non-cash inventory step-up to fair value charge related to the IntraLase acquisition. |
- more -
The following information was filed by Abbott Medical Optics Inc on Thursday, August 2, 2007 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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SEC Filing Tools
CIK: 1168335
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-07-175330
Submitted to the SEC: Wed Aug 08 2007 2:20:51 PM EST
Accepted by the SEC: Wed Aug 08 2007
Period: Friday, June 29, 2007
Industry: Surgical And Medical Instruments And Apparatus
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